What is happening with Pi???

The Pi crypto crashes in less than an hour…. or did it?

Source : Coinmarketcap.com / Pi

Yesterday, many of you who are mining Pi might have noticed — the value plummeted from $40 or so, all the way to $0.19.

So those stories I wrote about the “easiest $100k I ever made… maybe….”, the maybe part has come true, and it’s probably a hard nope.

The Easiest $100,000 I ever made…. Maybe.

The Pi community is fuming.

No shortage of hate in the comments and chatpod.

Was it a rug pull?

Was it a scam?

What happened?

I opened the Pi app and went into the chats and found relevant info, but I am still totally confused.

Apparently Pi team has been fighting a battle against exchanges with fraudulent PI listings, and the value seen in coinmarketcap is being drawn from illegitimate blockchains.