Is it the Biggest Crypto Rug Pull of 2025?
The post Is it the Biggest Crypto Rug Pull of 2025? appeared on BitcoinEthereumNews.com.
Altcoins In what some are now calling the largest crypto rug pull of 2025, Pi Network—once hailed as a revolutionary mobile mining platform—has come under intense scrutiny following a massive token dump and a dramatic price crash. Investigative insights, shared by X account, known as “Atlas” have shed light on a complex web of hype, vague promises, centralized control, and insider trading that may have defrauded millions of hopeful users. The Rise of Pi Network Launched with a bold vision to democratize cryptocurrency mining via smartphones, Pi Network quickly attracted millions. The promise? Free tokens mined through a simple mobile app and future rewards once the project went live. Over time, delays mounted as the team postponed mainnet launches and maintained a closed beta. Still, faith in the project endured. According to Atlas in early 2025, Pi finally opened its Mainnet and began trading. Speculation and optimism drove the token to surge from $0.66 to $1.60. However, beneath the surface, troubling signs were beginning to emerge. The Collapse In May 2025, shortly after Pi Network’s hyped appearance at Consensus 2025, the price collapsed by more than 50% within days he said. The timing coincided suspiciously with the announcement of a $100 million VC fund—a move that was seen by many as a distraction from the lack of any real technological progress. As users waited for functional dApps or decentralization milestones, insiders made their move. Exposing the Insider Dump Blockchain analyst and community figure Dr. Picoin revealed a 12 million Pi token transfer linked to a wallet—GABT7EMP—allegedly controlled by the Pi Core Team. His analysis shows the tokens were dumped right at the price peak. Blockchain data from Piscan confirmed massive outflows from this wallet at the height of market activity. “They sold while you were distracted by hype and announcements,” Dr.…
