Audit log

Every state-changing event for Pi Network (PI): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1reviewby reviewerreviewer

   2026-05-13 16:13:02Z
   Score: 22 → 22 (no score change)
   The Pi Network investigation page is broadly factually accurate: 31 of 39 discrete claims are confirmed by independent sources, and most numerical figures (ATH prices, lawsuit amounts, token allocations, supply percentages, breach details) match cited sources precisely. The single material factual error is the assertion that Dr. Chengdiao Fan holds a PhD in Computer Science — her PhD is in Anthropological Sciences per her own official biography and multiple corroborating sources. Minor issues include an imprecise ATH date (February 26-27, not February 28), an overstated causal link between the Bybit CEO controversy and the 60% price drop (the ATH was reached after Zhou's comments), and four CoinPedia/Bitget source URLs that returned 403/410 errors and could not be directly verified at review time. The page's framing of the '60-100 million users' claim spans two different time periods and metrics without noting this distinction.
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   {"actor":"reviewer","decided_at":"2026-05-13T16:13:02.270Z","decision":"review","investigation_id":"d49e2e18-9214-4172-a653-aef4be4ca701","new_score":22,"page_slug":"pi-network","prev_score":22,"reason":"The Pi Network investigation page is broadly factually accurate: 31 of 39 discrete claims are confirmed by independent sources, and most numerical figures (ATH prices, lawsuit amounts, token allocations, supply percentages, breach details) match cited sources precisely. The single material factual error is the assertion that Dr. Chengdiao Fan holds a PhD in Computer Science — her PhD is in Anthropological Sciences per her own official biography and multiple corroborating sources. Minor issues include an imprecise ATH date (February 26-27, not February 28), an overstated causal link between the Bybit CEO controversy and the 60% price drop (the ATH was reached after Zhou's comments), and four CoinPedia/Bitget source URLs that returned 403/410 errors and could not be directly verified at review time. The page's framing of the '60-100 million users' claim spans two different time periods and metrics without noting this distinction.","score_delta":0,"sequence_num":1,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 61d65025-0e59-452c-bfad-1d63d8412945copy
2. #2review reviseby judgejudge

   2026-05-13 16:13:02Z
   Score: 22 → 14 (-8)
   The page is broadly accurate: 31 of 39 claims are confirmed and the core allegations (lawsuit, KYC breach, regulatory warnings, token dump) are well-sourced. However, claim_findings[4] establishes a clear factual error — the page states Dr. Chengdiao Fan holds a PhD in Computer Science, while her own official biography and multiple corroborating sources confirm her PhD is in Anthropological Sciences. Separately, claim_findings[30] overstates the causal link between the Bybit CEO controversy and the 60% price drop, misrepresenting the timeline (the ATH of $2.98-$2.99 was reached approximately February 26-27, after Zhou's February 20 statement, not before). A high-priority coverage gap also exists: the page omits that a prior co-founder, Vincent McPhillip, filed a lawsuit against Kokkalis, Fan, and SocialChain in 2020 alleging ownership dilution — materially relevant background given the active 2025 Moen litigation. These issues together warrant revision before the page is considered final.
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   {"actor":"judge","decided_at":"2026-05-13T16:13:02.270Z","decision":"review_revise","investigation_id":"d49e2e18-9214-4172-a653-aef4be4ca701","new_score":14,"page_slug":"pi-network","prev_score":22,"reason":"The page is broadly accurate: 31 of 39 claims are confirmed and the core allegations (lawsuit, KYC breach, regulatory warnings, token dump) are well-sourced. However, claim_findings[4] establishes a clear factual error — the page states Dr. Chengdiao Fan holds a PhD in Computer Science, while her own official biography and multiple corroborating sources confirm her PhD is in Anthropological Sciences. Separately, claim_findings[30] overstates the causal link between the Bybit CEO controversy and the 60% price drop, misrepresenting the timeline (the ATH of $2.98-$2.99 was reached approximately February 26-27, after Zhou's February 20 statement, not before). A high-priority coverage gap also exists: the page omits that a prior co-founder, Vincent McPhillip, filed a lawsuit against Kokkalis, Fan, and SocialChain in 2020 alleging ownership dilution — materially relevant background given the active 2025 Moen litigation. These issues together warrant revision before the page is considered final.","score_delta":-8,"sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 5eef3421-7732-4a7d-bbec-6e738fbc9e3fcopy
3. #3publishby system:backfill

   2026-05-14 06:02:01Z
   Score: ? → ? (no score change)
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   {"actor":"system:backfill","investigation_id":"d49e2e18-9214-4172-a653-aef4be4ca701","kind":"publish","page_slug":"pi-network","published_at":"2026-05-14T06:02:01.332Z","sequence_num":3,"snapshot":{"content_type":"investigation","entity_name":"Pi Network (PI)","sections":[{"content":"Pi Network was founded on March 14, 2019 by Dr. Nicolas Kokkalis (Head of Technology) and Dr. Chengdiao Fan (Head of Product), both of whom hold PhDs from Stanford University. A third co-founder, Vincent McPhillip, served as Head of Community in the project's early phase. Kokkalis earned his PhD in Computer Science from Stanford in 2012, taught Stanford's first decentralized applications course (CS359B) in 2018, and previously co-founded the gaming platform Gameyola and served as CTO of the Stanford startup accelerator StartX. Fan's PhD was also in Computer Science from Stanford. Stanford University has clarified it did not provide resources to the project, though faculty members reportedly offered informal guidance. The corporate entity behind the project is SocialChain, Inc., incorporated in Delaware and California. In December 2024, ownership was formally transferred to Pi Community Company, a Cayman Islands-registered entity. The project's stated mission is to make cryptocurrency accessible to ordinary users through smartphone-based participation, without requiring specialized hardware or significant energy expenditure.","heading":"Background and Founding","severity":"low","sources":[{"credibility":2,"name":"Stanford grads develop cryptocurrency for smartphone users - Stanford Daily","type":"news_article","url":"https://stanforddaily.com/2019/09/16/stanford-grads-develop-cryptocurrency-for-smartphone-users-to-increase-its-accessibility/"},{"credibility":2,"name":"Dr. Nicolas Kokkalis - Pi Network Official Profile","type":"official","url":"https://minepi.com/about/dr_nicolas_kokkalis/"},{"credibility":2,"name":"Who Owns Pi Network? Founders and Backers - AMBCrypto","type":"news_article","url":"https://ambcrypto.com/blog/who-owns-pi-network-founders-backers/"},{"credibility":3,"name":"Pi Network Cayman Islands Transfer - Pi Bazar","type":"community_report","url":"https://pibazar.eu/en/pi-network-officially-transfers-ownership-to-pi-community-company-in-the-cayman-islands/"}]},{"content":"Pi Network launched its app on March 14, 2019 and entered an 'Enclosed Mainnet' phase in December 2021, where on-chain infrastructure was live but permissioned — only the Core Team operated validator nodes. A public Open Network launch was repeatedly delayed. Pi's 2021 whitepaper implied a 2022 target; that deadline passed without launch. In December 2023, the project stated an Open Network launch would occur in 2024 'if conditions are met'; that deadline also passed. The Open Network finally launched on February 20, 2025 — approximately three years after initial public targets — enabling external exchange connectivity for the first time. PI token was listed on OKX, Bitget, MEXC, HTX, and other exchanges upon launch. As of May 2026, Binance and Coinbase have not listed PI. The token reached an all-time high of approximately $2.98–$2.99 in late February 2025, then entered a sustained decline, losing approximately 95% of its value from peak and trading near $0.17–$0.19 by early 2026.","heading":"Mainnet Delays and Development Timeline","severity":"medium","sources":[{"credibility":2,"name":"Open Network Conditions and Timeline Update - Pi Network Official Blog","type":"official","url":"https://minepi.com/blog/open-network-update/"},{"credibility":2,"name":"Pi Network Open Mainnet Launch Announced - Pi Network Official Blog","type":"official","url":"https://minepi.com/blog/open-network-launch-date/"},{"credibility":2,"name":"Pi Network in 2025: Mainnet Launch, ATHs, Crashes, and What Comes Next - CryptoPotato","type":"news_article","url":"https://cryptopotato.com/pi-network-pi-in-2025-mainnet-launch-aths-crashes-and-what-comes-next/"},{"credibility":2,"name":"Pi Network Faces Volatility Challenges in 2025 After Long-Awaited Launch - Bitget News","type":"news_article","url":"https://www.bitget.com/news/detail/12560605124301"}]},{"content":"On October 24, 2025, Arizona investor Harro Moen filed a civil complaint in the US District Court for the Northern District of California against SocialChain Inc., Pi Community Company, and co-founders Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. The lawsuit seeks $10,000,000 in damages and alleges: (1) 5,137 PI tokens were transferred without authorization from Moen's verified wallet to an unknown address on April 10, 2024; (2) an additional 1,403 PI tokens were withheld and not migrated to mainnet; (3) SocialChain Inc. secretly sold approximately 2 billion PI tokens without public disclosure; (4) the Core Team maintained centralized control through only three validator nodes throughout the Enclosed Mainnet period, contrary to decentralization representations. Moen further alleges deliberate migration delays, unauthorized exchange listings in 2022, and retaliation against his complaints. A class-action variant of the suit was also reported in some sources. Pi Network's Core Team responded by calling the lawsuit 'frivolous' and stating they are 'working on a motion to dismiss' while 'vehemently denying these allegations.' A court hearing was scheduled for December 23, 2025. The outcome of this proceeding has not been publicly confirmed.","heading":"Federal Lawsuit: Alleged Token Fraud and Unauthorized Transfers","severity":"critical","sources":[{"credibility":2,"name":"Pi Network News: US Investor Files $10M Lawsuit Over Alleged Token Fraud - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/pi-network-news-us-investor-files-10m-lawsuit-over-alleged-token-fraud/"},{"credibility":2,"name":"Pi Network Faces $10M Lawsuit as Claims Are Called Deeply Flawed - TradingView/CoinPedia","type":"news_article","url":"https://www.tradingview.com/news/coinpedia:71ebb3abc094b:0-pi-network-faces-10m-lawsuit-as-claims-are-called-deeply-flawed/"},{"credibility":2,"name":"Crypto Miner Files Class Action Suit Against Pi Network, Founders - BlockTribune","type":"news_article","url":"https://blocktribune.com/crypto-miner-files-class-action-suit-against-pi-network-founders/"},{"credibility":2,"name":"Pi Network Hit With $10 Million Fraud Lawsuit by US Investor - MEXC News","type":"news_article","url":"https://www.mexc.com/news/241774"}]},{"content":"Pi Network requires mandatory Know Your Customer (KYC) verification for users to access their mined PI tokens. KYC collection includes full name, government-issued ID, facial scan, phone number, and address. The network has processed KYC through London-based third-party provider Yoti, which also serves other entities. In approximately 2021, a 17GB cache of KYC data belonging to approximately 10,000 Vietnamese citizens appeared for sale on the hacker forum RaidForum for $9,000, payable in Bitcoin or Litecoin. The data included names, identity card images, home addresses, phone numbers, and email addresses. A Vietnamese cybersecurity researcher linked the data to Pi Network. Pi Network denied the breach originated from its own servers and pointed to Yoti as the responsible handler of the data. Yoti subsequently denied responsibility through a spokesperson. Vietnam's Ministry of Public Security launched an investigation, but the definitive source of the leak was never publicly confirmed. Separately, a 2021 incident involving unencrypted KYC data transmission was reported, though Pi Network claimed improvements were made. The mandatory KYC requirement creates a centralized repository of highly sensitive biometric and identity data, which security researchers and analysts have consistently flagged as a significant risk given the network's scale. Chinese authorities have separately warned that the KYC process may be used to harvest personal data from users who have limited understanding of digital assets.","heading":"KYC Data Privacy and Alleged Data Breach","severity":"high","sources":[{"credibility":2,"name":"Crypto app denies it leaked 17GB of KYC data, points to third party - Protos","type":"news_article","url":"https://protos.com/crypto-app-kyc-data-pi-network-third-party-leak-yoti/"},{"credibility":2,"name":"Mobile crypto mining app possibly connected to personal data leak - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/mobile-crypto-mining-app-possibly-connected-to-personal-data-leak"},{"credibility":2,"name":"Major personal identification data leak affects thousands in Vietnam - VnExpress","type":"news_article","url":"https://e.vnexpress.net/news/news/personal-data-leak-affects-thousands-of-vietnamese-4279503.html"},{"credibility":2,"name":"Is Pi Network a Rug Pull? Privacy Risks and Token Dump Explained - CCN","type":"news_article","url":"https://www.ccn.com/education/crypto/pi-network-rug-pull-hype-privacy-risks-token-dump-explained/"}]},{"content":"Pi Network has attracted regulatory scrutiny and formal warnings in multiple countries. In China, the Public Security Bureau of Hengyang City, Hunan Province, stated on its official website in July 2023 that Pi Coin is a scam. Seven Chinese national industry associations, including the China Internet Finance Association, released a joint warning labeling Pi Coin an 'air coin' — a term used for tokens lacking transparency, utility, or proven backing. Chinese legal experts noted that Pi Network's referral-based structure, where participants earn more by recruiting others, may constitute a pyramid scheme under Chinese law if it involves more than 30 participants across three or more levels. Pi Network has responded by proactively limiting access for Chinese users to avoid regulatory conflict. In Malaysia, the Securities Commission issued a formal warning on February 18, 2025, stating Pi Network was operating digital assets without a license and requesting suspension of local promotional activities. Authorities in Vietnam and Thailand have also issued warnings about Pi Coin's legitimacy. In Southeast Asia broadly, regulators in several jurisdictions have classified PI as a 'grey asset' that may qualify as a security token, raising delisting risk from regional exchanges. The project has published a MiCA whitepaper (October 2025) and states it is building a global compliance framework. No SEC, CFTC, or DOJ enforcement actions against Pi Network have been publicly identified as of May 2026.","heading":"Regulatory Warnings and Legal Status Across Jurisdictions","severity":"high","sources":[{"credibility":2,"name":"Pi Network Alert: China Issues New Warning Over Pi Coin - CoinPedia","type":"regulatory","url":"https://coinpedia.org/news/pi-network-alert-china-issues-new-warning-over-pi-coin/"},{"credibility":2,"name":"Pi Network Adoption Surges Despite Regulatory Warnings - BeInCrypto","type":"news_article","url":"https://beincrypto.com/pi-network-payment-adoption/"},{"credibility":2,"name":"Global Regulatory Case Study: Pi Network's Compliance Path and Risks in Southeast Asia - Gate.io Learn","type":"research","url":"https://www.gate.com/learn/articles/global-regulatory-case-study-pi-networks-compliance-path-and-risks-in-southeast-asia/6957"},{"credibility":2,"name":"Pi Network to Block China and Other Regions From Trading - CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/pi-network-cut-off-china-trading-crypto-exchanges/"},{"credibility":2,"name":"Pi Network Price Under Pressure as OKX and Gate.io Consider Possible Delisting - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/pi-network-pi-coin-faces-risk-of-delisting-after-china-calls-it-a-high-risk-token/"}]},{"content":"Pi Network's referral-based mining model, in which users earn increased mining rates by inviting others to join their 'Security Circle,' has drawn sustained criticism from analysts, regulators, and industry figures as resembling multi-level marketing (MLM) or pyramid scheme structures. Critics argue the primary driver of user value is not intrinsic token utility but the continuous recruitment of new participants — a hallmark of pyramid scheme mechanics. Early users earn disproportionately higher amounts of PI through the invitation hierarchy, mirroring tiered MLM compensation structures. Justin Bons, founder of crypto venture fund CyberCapital, has publicly compared Pi Network to a Ponzi scheme, citing its centralized control and referral-based model. In July 2023, authorities in Hengyang City, China officially categorized Pi Network as a pyramid scheme under Chinese law. The defiant.io has reported that Pi Network formally responded to 'scam' and 'multi-level marketing' allegations, denying the characterizations and arguing that no monetary investment is required to join. While Pi Network does not charge users to participate, the referral-driven growth model and the anticipation of future token value represent indirect economic incentives that parallel MLM dynamics. Pi Network has responded that it is a 'social network with a utility token,' not a speculative investment scheme.","heading":"Pyramid Scheme and MLM Allegations","severity":"high","sources":[{"credibility":2,"name":"Pi Network Responds to Scam and Multi-Level Marketing Allegations - The Defiant","type":"news_article","url":"https://thedefiant.io/news/nfts-and-web3/pi-network-responds-to-scam-and-multi-level-marketing-allegations"},{"credibility":2,"name":"Is Pi Network a Pyramid Scheme? - CCN","type":"news_article","url":"https://www.ccn.com/education/crypto/pi-network-crypto/"},{"credibility":2,"name":"Is Pi Network a Pyramid Scheme or Legitimate Crypto Project? - Bitrue","type":"news_article","url":"https://www.bitrue.com/blog/is-pi-network-a-pyramid-scheme-analysis"},{"credibility":2,"name":"Pi Network Legit or Scam Assessment - OKX Learn","type":"research","url":"https://www.okx.com/en-us/learn/is-pi-network-legit-or-a-scam-in-2025-key-facts-risk-and-red-flags"}]},{"content":"On February 20, 2025 — the same day as Pi Network's Open Network launch — Bybit CEO Ben Zhou publicly announced on X (formerly Twitter) that Bybit would not list PI, stating: 'Yes, I still think you are a scam, and no, Bybit will not list scam.' Zhou cited a 2023 Chinese police warning that had alleged Pi Network was targeting elderly individuals, resulting in personal data leaks and financial losses from pension funds. Zhou stated that Bybit had never approached Pi Network for a listing, contradicting a claim made by an account purporting to be Pi Network's 'unofficial technical team.' Pi Network publicly distanced itself from the account that attacked Zhou, stating: 'Neither Pi Network, nor anyone affiliated with Pi Network, are associated with the social media account which attacked Mr. Zhou.' The PI token dropped more than 60% from its launch-day peak in the days following the controversy. Separately, Justin Bons of CyberCapital labeled Pi Network 'a crypto scam' in public commentary. Coin Bureau's 2026 comprehensive review concluded that Pi Network 'sits somewhere between ambition and execution — not an obvious scam, but not yet the revolution it claims to be,' while recommending caution. CoinDesk covered Zhou's statements as a major exchange operator publicly refusing to list the token on fraud grounds.","heading":"Bybit CEO and Industry Figures Label Project a Scam","severity":"high","sources":[{"credibility":1,"name":"Bybit CEO Labels Pi Network a Scam, Citing Official Police Warning - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2025/02/21/bybit-ceo-labels-pi-network-a-scam-citing-official-police-warning"},{"credibility":2,"name":"Pi Network Responds to Bybit CEO's Scam Allegations - TradingView/CoinTelegraph","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:47a08ea7a094b:0-pi-network-responds-to-bybit-ceo-s-scam-allegations/"},{"credibility":2,"name":"Bybit CEO: Pi Network is More Dangerous Than Meme Coins - BeInCrypto","type":"news_article","url":"https://beincrypto.com/pi-network-community-backlash-bybit-ceo/"},{"credibility":2,"name":"Is Pi Network Legit In 2026? A Comprehensive Review - Coin Bureau","type":"research","url":"https://coinbureau.com/analysis/is-pi-coin-legit"}]},{"content":"In May 2025, crypto analyst 'Atlas' publicly alleged that wallets linked to Pi Network's core team transferred approximately 12 million PI tokens in a coordinated movement that coincided with a price peak of approximately $1.60. Following the transfers, PI fell over 50% to approximately $0.70. Atlas characterized the alleged movement as a 'pump-and-dump' and described Pi Network as the 'biggest slow rug pull' of 2025. An earlier set of claims, described in some sources as relating to '$8 billion' in alleged insider sales, refers to the approximate dollar value of 2 billion PI tokens that plaintiff Harro Moen also alleges SocialChain secretly sold — these are contested and unproven claims. Pi Network's Core Team formally denied the insider dumping allegations, stating the 12 million PI movements were standard migration distributions to users (known as Pioneers) who had earned rewards through the mining app — not sales or dumps by insiders. Atlas rejected this defense as insufficient and called for greater on-chain transparency. No independent blockchain analytics firm has issued a definitive on-chain report confirming or refuting Atlas's specific wallet attribution claims as of the research date.","heading":"Alleged Insider Token Dump","severity":"high","sources":[{"credibility":2,"name":"Pi Network Responds to $12B Insider Dump Allegations - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/is-pi-network-the-biggest-crypto-scam-of-2025/"},{"credibility":2,"name":"Pi Network Faces Largest 2025 Scam With $8 Billion Insider Dump Claims - Bitget News","type":"news_article","url":"https://www.bitget.com/news/detail/12560604766959"},{"credibility":2,"name":"Is Pi Network a Rug Pull? Hype, Privacy Risks and Token Dump Explained - CCN","type":"news_article","url":"https://www.ccn.com/education/crypto/pi-network-rug-pull-hype-privacy-risks-token-dump-explained/"}]},{"content":"Pi Network's stated maximum token supply is 100 billion PI. The allocation breakdown, per official sources, is approximately: 65% for community mining rewards, 20% for the Core Team, 10% for the Pi Foundation, and 5% for liquidity. Analysts have flagged the 20% Core Team allocation as unusually large for a project that framed itself as community-owned. The Enclosed Mainnet period (December 2021 to February 2025) ran exclusively on three validator nodes controlled by the Pi Core Team, making the network functionally centralized despite blockchain branding. Token supply grew at inflation rates far exceeding most established cryptocurrencies: migrated supply increased approximately 106.6% between August 2023 and September 2024, and an additional 36.6% from September 2024 to January 2025 — rates critics have contrasted with Bitcoin's approximately 0.8% annual inflation. Comprehensive circulating supply data has been criticized as opaque, with analysts noting difficulty in independently verifying the actual number of PI tokens in circulation versus locked. As of Protocol 23 (May 2026), the project is adding smart contract functionality, with 421,000 active mainnet nodes reported by the project — though independent verification of this figure has not been identified. Neither Binance nor Coinbase had listed PI as of the research date, which some analysts interpret as a signal of ongoing due-diligence concerns at major platforms.","heading":"Tokenomics and Centralization Concerns","severity":"high","sources":[{"credibility":2,"name":"Mainnet Migrations Roadmap and Explaining Pi Tokenomics and Supply - Pi Network Official Blog","type":"official","url":"https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/"},{"credibility":2,"name":"Pi Network Complete Guide: Mobile Mining, Tokenomics, and Critical Analysis - LBank","type":"research","url":"https://www.lbank.com/explore/pi-network-mobile-mining-tokenomics-critical-analysis"},{"credibility":3,"name":"Pi Network After 6 Years: Between Open Mainnet Promises and Growing Centralization Concerns - HOKANEWS","type":"community_report","url":"https://www.hokanews.com/2025/12/pi-network-after-6-years-between-open.html"},{"credibility":2,"name":"Is Pi Network Legit In 2026? A Comprehensive Review - Coin Bureau","type":"research","url":"https://coinbureau.com/analysis/is-pi-coin-legit"}]},{"content":"In late 2025, Pi Network suspended its 'send payment request' feature after a social engineering scam drained an estimated 4.4 million PI tokens from users across the network. The attack exploited the transparent nature of the blockchain: scammers scanned public wallet addresses to identify large balances, then sent fraudulent payment requests. If the recipient clicked 'approve,' the transfer was irreversible. Community reports identified a single scammer address that reportedly received between 700,000 and 800,000 PI per month beginning in July 2025. Pi Network's Core Team characterized the suspension as a temporary measure pending implementation of additional safeguards, and clarified that the exploit was not a technical vulnerability but a social engineering attack exploiting user behavior. Yahoo Finance and crypto.news both covered the Pi Network response. This incident is separate from allegations involving insider dumping or unauthorized Core Team transfers; it represents third-party criminal activity targeting the user base rather than misconduct by Pi Network itself.","heading":"Community Scams and Payment Exploit","severity":"medium","sources":[{"credibility":1,"name":"Pi Network Halts Payment Requests After Scam Drains 4.4 Million Pi Coins - Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/pi-network-halts-payment-requests-052821339.html"},{"credibility":2,"name":"Pi Network halts payment requests due to scam incidents - crypto.news","type":"news_article","url":"https://crypto.news/pi-network-suspends-payment-requests-scam-2025/"},{"credibility":2,"name":"Pi Network Freezes Wallet Payments Following Multi-Million Dollar Scam - Crypto Economy","type":"news_article","url":"https://crypto-economy.com/pi-network-freezes-wallet-payments-following-multi-million-dollar-scam/"}]}],"sources_used":[{"credibility":1,"name":"Bybit CEO Labels Pi Network a Scam, Citing Official Police Warning - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2025/02/21/bybit-ceo-labels-pi-network-a-scam-citing-official-police-warning"},{"credibility":1,"name":"Pi Network Halts Payment Requests After Scam Drains 4.4 Million Pi Coins - Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/pi-network-halts-payment-requests-052821339.html"},{"credibility":2,"name":"Pi Network News: US Investor Files $10M Lawsuit Over Alleged Token Fraud - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/pi-network-news-us-investor-files-10m-lawsuit-over-alleged-token-fraud/"},{"credibility":2,"name":"Crypto app denies it leaked 17GB of KYC data, points to third party - Protos","type":"news_article","url":"https://protos.com/crypto-app-kyc-data-pi-network-third-party-leak-yoti/"},{"credibility":2,"name":"Mobile crypto mining app possibly connected to personal data leak - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/mobile-crypto-mining-app-possibly-connected-to-personal-data-leak"},{"credibility":2,"name":"Pi Network Responds to Scam and Multi-Level Marketing Allegations - The Defiant","type":"news_article","url":"https://thedefiant.io/news/nfts-and-web3/pi-network-responds-to-scam-and-multi-level-marketing-allegations"},{"credibility":2,"name":"Pi Network Responds to $12B Insider Dump Allegations - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/is-pi-network-the-biggest-crypto-scam-of-2025/"},{"credibility":2,"name":"Is Pi Network a Rug Pull? Hype, Privacy Risks and Token Dump Explained - CCN","type":"news_article","url":"https://www.ccn.com/education/crypto/pi-network-rug-pull-hype-privacy-risks-token-dump-explained/"},{"credibility":2,"name":"Pi Network Alert: China Issues New Warning Over Pi Coin - CoinPedia","type":"regulatory","url":"https://coinpedia.org/news/pi-network-alert-china-issues-new-warning-over-pi-coin/"},{"credibility":2,"name":"Global Regulatory Case Study: Pi Network Compliance Path and Risks in Southeast Asia - Gate.io","type":"research","url":"https://www.gate.com/learn/articles/global-regulatory-case-study-pi-networks-compliance-path-and-risks-in-southeast-asia/6957"},{"credibility":2,"name":"Open Network Conditions and Timeline Update - Pi Network Official Blog","type":"official","url":"https://minepi.com/blog/open-network-update/"},{"credibility":2,"name":"Mainnet Migrations Roadmap and Pi Tokenomics - Pi Network Official Blog","type":"official","url":"https://minepi.com/blog/mainnet-migrations-roadmap-and-tokenomics/"},{"credibility":2,"name":"Stanford grads develop cryptocurrency for smartphone users - Stanford Daily","type":"news_article","url":"https://stanforddaily.com/2019/09/16/stanford-grads-develop-cryptocurrency-for-smartphone-users-to-increase-its-accessibility/"},{"credibility":2,"name":"Is Pi Network Legit In 2026? A Comprehensive Review - Coin Bureau","type":"research","url":"https://coinbureau.com/analysis/is-pi-coin-legit"},{"credibility":2,"name":"Pi Network in 2025: Mainnet Launch, ATHs, Crashes, and What Comes Next - CryptoPotato","type":"news_article","url":"https://cryptopotato.com/pi-network-pi-in-2025-mainnet-launch-aths-crashes-and-what-comes-next/"},{"credibility":2,"name":"Bybit CEO Labels Pi Network a Scam as Project Defends 60 Million User Claim - Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/trending/bybit-ceo-labels-pi-network-a-scam-as-project-defends-60-million-user-claim/"},{"credibility":2,"name":"Pi Network halts payment requests due to scam incidents - crypto.news","type":"news_article","url":"https://crypto.news/pi-network-suspends-payment-requests-scam-2025/"},{"credibility":2,"name":"Crypto Miner Files Class Action Suit Against Pi Network, Founders - BlockTribune","type":"news_article","url":"https://blocktribune.com/crypto-miner-files-class-action-suit-against-pi-network-founders/"},{"credibility":2,"name":"Pi Network Faces $10M Lawsuit as Claims Are Called Deeply Flawed - TradingView","type":"news_article","url":"https://www.tradingview.com/news/coinpedia:71ebb3abc094b:0-pi-network-faces-10m-lawsuit-as-claims-are-called-deeply-flawed/"},{"credibility":2,"name":"Is Pi Network a Pyramid Scheme? - CCN","type":"news_article","url":"https://www.ccn.com/education/crypto/pi-network-crypto/"},{"credibility":2,"name":"Pi Network Legit or Scam Assessment - OKX Learn","type":"research","url":"https://www.okx.com/en-us/learn/is-pi-network-legit-or-a-scam-in-2025-key-facts-risk-and-red-flags"},{"credibility":2,"name":"Pi Network Complete Guide: Tokenomics and Critical Analysis - LBank","type":"research","url":"https://www.lbank.com/explore/pi-network-mobile-mining-tokenomics-critical-analysis"},{"credibility":2,"name":"Major personal identification data leak affects thousands in Vietnam - VnExpress","type":"news_article","url":"https://e.vnexpress.net/news/news/personal-data-leak-affects-thousands-of-vietnamese-4279503.html"},{"credibility":2,"name":"Pi Network to Block China and Other Regions From Trading - CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/pi-network-cut-off-china-trading-crypto-exchanges/"},{"credibility":2,"name":"Pi Network denies scam allegations by Bybit CEO Ben Zhou - VnExpress International","type":"news_article","url":"https://e.vnexpress.net/news/tech/enterprises/pi-network-denies-scam-allegations-by-bybit-ceo-ben-zhou-4853511.html"}],"summary":"Pi Network is a mobile-first Layer 1 cryptocurrency project launched in March 2019 by Stanford-affiliated academics Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. It attracted a reported 60–100 million users by enabling smartphone-based 'mining' through an app, but spent nearly six years in a restricted testnet before launching its Open Network on February 20, 2025. The project carries significant risk flags: a $10 million federal lawsuit filed in October 2025 alleging unauthorized token transfers and secret insider sales, a 2021 alleged KYC data breach affecting ~10,000 Vietnamese users, documented pyramid-scheme warnings from Chinese, Malaysian, and Vietnamese regulators, public labeling as a scam by the Bybit CEO, allegations of undisclosed insider token dumps, and structural centralization contradicting its decentralized blockchain claims.","timeline":[{"date":"2019-03-14","event":"Pi Network app launched by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Users begin earning PI through daily app check-ins and referrals.","source":"Stanford Daily","source_url":"https://stanforddaily.com/2019/09/16/stanford-grads-develop-cryptocurrency-for-smartphone-users-to-increase-its-accessibility/"},{"date":"2021-03-01","event":"Alleged 17GB KYC data breach surfaces on RaidForum, affecting approximately 10,000 Vietnamese users. Pi Network denies breach originated from its servers and points to third-party Yoti.","source":"Protos / CoinTelegraph","source_url":"https://protos.com/crypto-app-kyc-data-pi-network-third-party-leak-yoti/"},{"date":"2021-12-01","event":"Pi Network enters Enclosed Mainnet phase. On-chain infrastructure goes live but is permissioned, with only Core Team nodes operating as validators.","source":"Pi Network Official Blog","source_url":"https://minepi.com/blog/open-network-update/"},{"date":"2023-07-01","event":"Public Security Bureau of Hengyang City, China, officially categorizes Pi Coin as a scam on its government website. Seven Chinese national associations jointly warn public about Pi Coin as an 'air coin.'","source":"CoinPedia","source_url":"https://coinpedia.org/news/pi-network-alert-china-issues-new-warning-over-pi-coin/"},{"date":"2024-04-10","event":"Plaintiff Harro Moen alleges 5,137 PI tokens were transferred without authorization from his verified wallet to an unknown address (per October 2025 lawsuit filing).","source":"CoinPedia","source_url":"https://coinpedia.org/news/pi-network-news-us-investor-files-10m-lawsuit-over-alleged-token-fraud/"},{"date":"2024-12-03","event":"Pi Network formally transfers corporate ownership from US-based SocialChain Inc. to Pi Community Company, registered in the Cayman Islands.","source":"Pi Bazar","source_url":"https://pibazar.eu/en/pi-network-officially-transfers-ownership-to-pi-community-company-in-the-cayman-islands/"},{"date":"2025-02-18","event":"Malaysia's Securities Commission issues a formal warning that Pi Network is operating digital assets without a license and requests suspension of local promotions.","source":"Gate.io Learn","source_url":"https://www.gate.com/learn/articles/global-regulatory-case-study-pi-networks-compliance-path-and-risks-in-southeast-asia/6957"},{"date":"2025-02-20","event":"Pi Network's Open Network launches, enabling external exchange connectivity for the first time. PI token lists on OKX, Bitget, MEXC, and HTX, opening at approximately $1.47.","source":"CryptoPotato","source_url":"https://cryptopotato.com/pi-network-pi-in-2025-mainnet-launch-aths-crashes-and-what-comes-next/"},{"date":"2025-02-20","event":"Bybit CEO Ben Zhou publicly declares Pi Network a scam on X and announces Bybit will not list PI, citing a 2023 Chinese police warning targeting elderly users.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2025/02/21/bybit-ceo-labels-pi-network-a-scam-citing-official-police-warning"},{"date":"2025-02-28","event":"PI token reaches all-time high of approximately $2.98–$2.99, then begins sustained decline.","source":"CryptoPotato","source_url":"https://cryptopotato.com/pi-network-pi-in-2025-mainnet-launch-aths-crashes-and-what-comes-next/"},{"date":"2025-05-17","event":"PI token drops over 50% from a peak of $1.60 to approximately $0.70. Analyst 'Atlas' alleges wallets linked to the Core Team moved 12 million PI at or near the peak. Pi Network denies insider selling.","source":"CoinPedia","source_url":"https://coinpedia.org/news/is-pi-network-the-biggest-crypto-scam-of-2025/"},{"date":"2025-07-01","event":"Social engineering scam begins systematically draining PI from user wallets via the payment request feature. Community reports one address receiving 700,000–800,000 PI monthly.","source":"Yahoo Finance / crypto.news","source_url":"https://finance.yahoo.com/news/pi-network-halts-payment-requests-052821339.html"},{"date":"2025-10-24","event":"Arizona investor Harro Moen files $10 million lawsuit in US District Court for the Northern District of California against SocialChain Inc., Pi Community Company, Kokkalis, and Fan, alleging token fraud and unauthorized transfers.","source":"CoinPedia","source_url":"https://coinpedia.org/news/pi-network-news-us-investor-files-10m-lawsuit-over-alleged-token-fraud/"},{"date":"2025-12-31","event":"Pi Network suspends the 'send payment request' wallet feature following cumulative losses exceeding 4.4 million PI tokens to social engineering scammers.","source":"Yahoo Finance","source_url":"https://finance.yahoo.com/news/pi-network-halts-payment-requests-052821339.html"},{"date":"2026-05-15","event":"Protocol 23 node upgrade deadline for all mainnet nodes, aimed at enabling smart contract functionality. Project reports 421,000 active mainnet nodes.","source":"CoinMarketCap / CMC AI","source_url":"https://coinmarketcap.com/cmc-ai/pi/latest-updates/"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision b8798987-e2cf-4493-b419-b7a3d73b309ecopy