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Pi Network Rocked by $8B Internal Sell-Off Allegations: Community in Crisis

Pi Network is under intense scrutiny as new allegations of an internal $8 billion sell-off shake the project to its core. Leading crypto investigator Atlas has accused the Pi Core Team of manipulating token movements through a vast network of hidden wallets — sparking what many now call the biggest scam of 2025.

According to CoinMarketCap, PI has plunged over 35% in the past week, currently trading at $0.7312. Atlas warns: "Stop watching notifications. Watch the wallets."

Timeline of PI Price Action:

May 1: $0.6135

May 12: Surged to $1.6704 (+113.2%)

May 24: Down over 56%, now at ~$0.7270

While the Pi Core Team has yet to issue an official response, community defenders claim the transactions are related to testnet-to-mainnet migration. However, Atlas and other chain analysts reject this, citing wallet evidence and a troubling lack of transparency.

Today alone, 5.7 million PI tokens were unlocked, flooding a market already under pressure. Centralized exchange balances have now hit 397 million PI, triggering fears of more dumps.

Crypto influencer Dr. Altcoin added fuel to the fire, claiming the Core Team controls 10,000+ hidden wallets, with only 7 major wallets traceable. He urges PI holders to demand transparency rather than blind loyalty.

With market confidence shaken, analysts warn PI could remain under severe price pressure unless strong investor demand returns. The community is now at a crossroads: demand answers or risk further collapse.