Derived from Coinpedia, a U.S. investor has filed a $10 million lawsuit against Pi Network, alleging a multi-year fraud scheme that caused $2 million in losses. The lawsuit, filed on October 24, 2025, in the U.S. District Court for the Northern District of California, claims the Pi token price dropped from $307.49 to near $1 and that 5,137 Pi tokens were transferred without authorization. Crypto researcher Dr. Altcoin has criticized the lawsuit as 'deeply flawed,' arguing the $307.49 price is based on third-party IOUs and not official listings. He also noted the unauthorized transfer claim lacks evidence. Following the lawsuit, Pi's price dropped nearly 8%, trading close to $0.21. On December 6, 2025, seven major Chinese financial associations warned the public about Pi Coin, adding to the project's regulatory pressure.
Pi Network Faces $10M Lawsuit Amid Price Drop and Transfer Claims
CoinpediaShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.