Pi Network Lawsuit Sparks Debate: Analyst Calls $307 Price Claim “Pure Fantasy” 🚨

A new lawsuit filed in the U.S. District Court of Northern California is stirring up the Pi Network community — but analysts say one of its biggest claims has zero grounding in reality.

Arizona resident Harro Moen alleges an unauthorized transfer of 5,137 Pi from his wallet and claims nearly $2 million in losses, arguing Pi once held a “real value” of $307 per token.

But according to crypto researchers, that number doesn’t hold up. Dr. Altcoin, a well-known analyst, explains that Pi has never exceeded $3 on legitimate markets. The inflated $307 figure comes from unregulated IOU markets, where exchanges listed unofficial Pi tokens despite repeated warnings from the Pi Core Team. These speculative prices were never tied to the real Pi ecosystem.

Moen also claims missing tokens due to migration delays — an issue many users have experienced but one analysts say is unlikely to meet the legal threshold for fraud.

As for the alleged token theft, experts note that unauthorized access typically results from compromised passphrases, not platform-side breaches — and the lawsuit reportedly offers no evidence otherwise.

Most analysts view the case as weak, but agree it could pressure the Pi Core Team to boost transparency around migration and mainnet progress.

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