The post Pi Network Faces Backlash Over Allegations of Insider Token Sales and Community Distrust appeared on BitcoinEthereumNews.com.

The Pi Network is currently under scrutiny as community members highlight alarming token transfer activities, raising concerns over transparency and trust. Blockchain analyses reveal significant token movements, igniting fears of insider trading amid a sharp decline in the token’s market value. Dr. Picoin’s allegations of mass sell-offs by the Core Team have resonated within the community, stirring intense debates over the project’s integrity. Recent controversies surrounding the Pi Network’s token transfers emphasize the urgent need for transparency and community trust amid market volatility. The Fallout from Recent Token Transfers: A Deep Dive into Pi Network’s Challenges The Pi Network has found itself in turbulent waters following accusations of questionable practices by its Core Team. With the token value dropping over 50% in just a few days, some members are raising serious allegations about a potential token offloading. A community figure, Dr. Picoin, claimed on social media platforms that the Core Team sold large volumes of the native PI token during a recent price surge, ostensibly to capitalize on market enthusiasm while community members remained engaged with project announcements. “During the recent price surge to around $1.60, the Core Team took advantage and offloaded vast amounts of tokens without any warning to the community,” Dr. Picoin stated, tapping into a growing sentiment of distrust among token holders. This allegation has prompted many community members to analyze blockchain data, discovering a reported transfer of 12 million PI tokens. While these claims remain largely unverified, they have cultivated a climate of panic and anxiety within the investor base. However, not all voices in the community share the same concern. Some argue that the transactions were merely a part of the ongoing migration from testnet to mainnet. “[The wallet in question] is simply a distribution wallet. The outflow numbers are being misconstrued by those…

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Filed under: News - @ May 17, 2025 6:28 pm