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<p><a href="https://coinpedia.org/price-prediction/pi-network-pi-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Pi Network</a> has been under heavy pressure lately after a U.S. investor filed a lawsuit, claiming he lost $2 million due to an alleged multi-year fraud scheme tied to the project.&nbsp;</p>
<p>The claims quickly spread across social media. In response, Crypto and AI researcher Dr Altcoin stepped in, saying the lawsuit is based on wrong price data and weak claims.</p>
<h2 class="wp-block-heading" id="h-pi-network-lawsuit-what-the-court-filing-says">Pi Network Lawsuit: What the Court Filing Says</h2>
<p>According to the filing <a href="https://coinpedia.org/news/pi-network-news-us-investor-files-10m-lawsuit-over-alleged-token-fraud/" target="_blank" rel="noopener noreferrer nofollow">submitted on October 24, 2025</a>, in the US District Court for the Northern District of California, a US investor from Arizona named Harro Moen has accused SocialChain Inc., Pi Community Company, and Pi Network executives of running a multi-year fraud scheme.</p>
<p>The complaint claims that the Moen suffered losses worth more than $2 million and is now seeking $10 million in damages.</p>
<p>The lawsuit alleges two main issues:&nbsp;</p>
<ul>
 <li>First, a huge price drop claim where the Pi token fell from $307.49 to near $1, causing massive damage.&nbsp;</li>
 <li>Second, an unauthorized transfer of more than 5,000 Pi from the investor’s wallet.&nbsp;</li>
</ul>
<p>These claims have quickly drawn attention across the Pi community, raising questions about the seriousness of the case.</p>
<h2 class="wp-block-heading" id="h-dr-altcoin-calls-lawsuit-deeply-flawed">Dr Altcoin Calls Lawsuit “Deeply Flawed”</h2>
<p>Crypto and AI researcher Dr Altcoin strongly believes the lawsuit is flawed and based on misinformation. He explains that the claim about Pi falling from $307.49 to $1.67 is misleading. As Pi has never traded above $3 on any centralized exchange after its listings.</p>
<p>In defence, he says that the $307.49 price mentioned in the lawsuit is certainly a Pi IOU price, set by third-party exchanges that listed Pi IOUs, not by the Pi Core Team.</p>
<p>Dr Altcoin also reminded users that the Pi team clearly warned the public multiple times not to buy or trade Pi IOUs, stating they were unofficial and risky.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>I think the lawsuit is flawed on multiple levels.<br><br> 1. The plaintiff, Moen, accuses Pi Network of fraud for dropping the price of Pi from $307.49 to $1.67.<br> The price of Pi has never been above $3 after the CEX listings. The $307.49 figure mentioned in the case is almost certainly… <a href="https://t.co/p7fbRtKKgI" rel="noopener noreferrer nofollow">pic.twitter.com/p7fbRtKKgI</a></p>— Dr Altcoin ✝️ (@Dr_Picoin) <a href="https://twitter.com/Dr_Picoin/status/1998701458095509574?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 10, 2025</a>
  </blockquote>
 </div>
</figure>
<h3 class="wp-block-heading" id="h-unauthorized-pi-transfer-claim-lacks-evidence">Unauthorized Pi Transfer Claim Lacks Evidence</h3>
<p>Coming on to the second claim, which alleges that 5137 Pi tokens were moved from the investor’s wallet without permission.</p>
<p>Dr Altcoin says this claim lacks proof. He further added that the responsibility lies with whoever has access to the investor’s passphrase or recovery data.&nbsp;</p>
<p>Without blockchain proof linking the transfer to Pi Network, Dr Altcoin believes the claim cannot stand in court.&nbsp;</p>
<h2 class="wp-block-heading" id="h-pi-token-price-under-huge-pressure">Pi Token Price under Huge Pressure</h2>
<p>Since the lawsuit surfaced, Pi’s price has dropped about 8% in recent weeks, now trading close to $0.21.</p>
<p>But the pressure didn’t stop there. <a href="https://coinpedia.org/news/pi-network-pi-coin-faces-risk-of-delisting-after-china-calls-it-a-high-risk-token/" target="_blank" rel="noopener noreferrer nofollow">Coinpedia</a> news reported that on December 6, a joint notice from seven major financial associations in China recently warned the public about illegal crypto activities and specifically named Pi Coin as a risky asset.</p>
<p>As a result, the sentiment around Pi has grown more cautious, and the project is now facing fears that it may get delisted from listed exchanges in recent months.</p>
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1765369063735">
  <strong><strong>What is the Pi Network lawsuit about?</strong></strong>
  <p>A U.S. investor claims he lost over $2 million and accuses Pi Network and related companies of fraud, seeking $10 million in damages.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1765369120988">
  <strong><strong>Can Pi Network access and transfer tokens from user wallets?</strong></strong>
  <p>No, blockchain wallets are user-controlled. An unauthorized transfer typically indicates compromised personal security, like a stolen passphrase, not a network action.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1765369137364">
  <strong><strong>Is Pi Coin considered a risky investment?</strong></strong>
  <p>Yes, global regulators, including financial groups in China, have specifically warned that Pi is a risky, unlicensed asset, highlighting its speculative and uncertain nature.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1765369157932">
  <strong><strong>How has the lawsuit affected Pi’s price and availability?</strong></strong>
  <p>The news contributed to recent price pressure and increased caution, sparking community discussion about potential delistings from exchanges that currently trade Pi IOUs.</p>
 </div>
</div>

Pi Network Faces $10M Lawsuit as Claims Are Called “Deeply Flawed”

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