#PI##PI# [突发财经] PI coin founder Nicholas is embroiled in legal disputes, with the project's compliance and authenticity facing multiple doubts.
■Founder Nicholas legal turmoil escalates
According to the latest news, the founder of Pi Network, Nicolas Kokkalis, has recently been embroiled in multiple legal controversies, and the internal conflicts and history of lawsuits within his team have drawn widespread attention:
1. Advertising fee distribution dispute: Court documents revealed on May 8, 2025, show that former community leader of PI token, Vincent McPhillip, had sued Nicholas and another founder, Chengdiao Fan, accusing them of misusing financial resources, wrongful termination, and creating a "toxic work environment." Other specific details of the case have not been made public, exposing a crisis of trust within the team.
2. Technical fraud and fund misappropriation: Judicial appraisal shows that the PI coin mainnet code contains a large amount of plagiarism, and the developer's wallet secretly transfers out 23,000 ETH each month. The Shanghai Blockchain Appraisal Center pointed out that its transaction processing performance is only one-thousandth of Bitcoin, and there is a serious issue of node centralization.
■PI coin project model controversy: technological innovation or pyramid scheme?
1. 传销特征显矣:派币通过"拉人头"机制吸引用户,邀请新成员可获20%收益加成,形成层级分润结构。 The Ministry of Public Security 2025 February 明确警告,其模式符合传销定义,全国超1800万参与者面临刑事风险。
2. 虚假承诺与价值泡沫:用户需每日登录维持活跃度,但挖矿年未实现主流交換動態。 场外交易市场频现暴跌,2025 March 月某野鸡交易所PI币价格48小时内暴跌97%,Henan 投资者3万元购入的"内部额度"沦为无效代码。
3. Compliance is under global pressure: the EU has classified PI as a "high-risk asset," the US SEC is investigating its mining model, and Chinese regulatory agencies have repeatedly warned that it may involve illegal financial activities. Wang Lixin, a blockchain professor at Tsinghua University, pointed out that 97% of similar projects eventually go to zero, and the PI may follow suit.
■Technical vulnerabilities and user privacy risks
1. Server Centralization: The mainnet of the PI coin is actually built on Alibaba Cloud servers, and the nodes are completely under official control, which is contrary to the advertised "decentralization." Hacker attack tests show that its protection capability is 78% lower than that of mainstream coins, and user data is being sold on the black market for $0.3 per record.
2. Privacy leak risks: Registration requires the submission of ID card and bank card information. The Hengyang police have previously uncovered a gang that used PI coin user information to commit telecom fraud. Internal chat records of the developers show that the team knew "opening KYC would lead to a collapse," yet delayed for three years to cover up the risks.
■Expert and Regulatory Warnings
Liang Si, a researcher at the Bank of China Research Institute, emphasized that the PI coin lacks value support and experiences severe price fluctuations without legal protection. Song Gangming, a lawyer at Beijing Jingzhen Law Firm, pointed out that participating in such projects may involve pyramid scheme crimes, and losses must be borne by the participants. Financial regulatory authorities' data show that 90% of off-exchange transactions of PI coins are scams, and users should uninstall the APP to stop losses in a timely manner.
Conclusion: The operational history of PI Coin over six years can be regarded as a "textbook on cognitive warfare," using a Stanford PhD team as a gimmick, weaving a wealth illusion by exploiting users' psychology of getting rich. With global regulatory crackdowns and internal trust collapse, this revelry shrouded in blockchain may be approaching its end. Investors need to be wary of the multiple traps behind the "free lunch" and view the technological myths and market speculation rationally.
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