Pi Network Could Be the Biggest Rug Pull of 2025 – Analyst Reveals Shocking Details No One Is Talking About
A top analyst Atlas, is sounding the alarm on Pi Network after a sudden price crash that followed what looks like a major token dump. Atlas claimed that 12 million PI tokens were unloaded within hours, wiping out more than half of the token’s value. His thread quickly gained traction on X (formerly Twitter), as blockchain data seemed to back up claims of insider activity.
Pi Coin price had recently hit a high of $1.60 earlier in 2025, so the sharp drop caught a lot of people off guard. Atlas said he spent 32 hours digging into the situation and found troubling signs, everything from questionable token movements to a lack of transparency and too much control resting in the hands of the core team.
What you'll learn 👉
Pi Coin Early Hype and Delays Raised Initial Questions
Pi Network began with the promise of mobile-first crypto mining. The idea attracted millions of users with the lure of free tokens and future gains. Despite early momentum, the platform spent years in closed beta, delaying full network access and public trading.
Past events have already sparked suspicion. In 2021, reports of a 17GB user data leak from Vietnam and concerns from Chinese regulators over data collection practices caused unease. Atlas also noted that the CEO of Bybit publicly questioned Pi Network’s legitimacy during that period.
🚨 Pi Network is the biggest RUG of 2025
— Atlas (@crptAtlas) May 19, 2025
Someone just dumped 12M tokens in a few hours, crashing the price by 50%
I spent 32 hours digging into the truth – and what I found shocked me
Here’s how $8B project is scamming holders – and their secret plan 👇🧵 pic.twitter.com/AChCH41kQJ
Mainnet Launch Followed by Pi Coin Price Crash
When Pi Network launched its Mainnet and began trading, speculation drove the price up from $0.66 to $1.60. The rise coincided with Pi’s appearance at Consensus 2025, where expectations of a tech update were met instead with the launch of a $100 million venture fund. Not long after this, the crash occurred.
Atlas referenced a wallet labeled GABT7EMP, which blockchain explorers like Piscan show as the source of large token transfers during this time. One community figure, Dr. Picoin, claimed that the Core Team used the price spike to sell tokens quietly, taking advantage of increased liquidity around the announcement period.
Furthermore, Atlas outlined further doubts about the project’s structure. He noted that the system operates on a multi-level referral model rather than adoption based on utility. Despite its claim of 60 million users, active wallet counts appear low. There is still no open-source code, no decentralized governance, and limited technical visibility.
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Critics say that major updates promised to the community were replaced with vague goals and marketing-driven narratives. During this time, insiders allegedly withdrew large amounts of tokens with limited disclosure.
Analyst Demands Transparency From Pi Core Team
Atlas concluded by saying that if the 12 million token dump is confirmed, it could qualify as one of the largest exit moves in 2025. He urged the Pi Core Team to release wallet details and transaction history to clarify the situation.
The Pi Network team has not issued a response at the time of writing. As questions grow, community members are now looking closely at token flows and insider behavior to determine what’s next for the project.
Disclaimer: The information shared here is based on a thread from X and does not reflect our own analysis.
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