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BTCC / BTCC Square / Global Cryptocurrency /
Arizona Investor Files $10M Lawsuit Against Pi Network Executives Over Alleged Fraud

Arizona Investor Files $10M Lawsuit Against Pi Network Executives Over Alleged Fraud

Author:
Global Cryptocurrency
Published:
2025-12-08 17:42:37
20
1
[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -

An Arizona-based investor has filed a $10 million lawsuit against Pi Network executives, accusing them of orchestrating a multi-year fraud scheme. Harro Moen filed the complaint in California federal court, alleging that unauthorized transfers of 5,137 PI tokens and delayed migration of 1,403 tokens to the mainnet resulted in $2 million in losses.

The lawsuit reveals serious allegations about PI Network's operations, including claims that SocialChain Inc. secretly sold 2 billion PI tokens. These actions allegedly suppressed the network's value while executives maintained centralized control over the cryptocurrency.

Moen calculated damages using 2022's peak valuations, though community members have questioned this methodology. The case underscores the increasing scrutiny around emerging cryptocurrency projects and their governance practices.

|Square

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