Pi Network, a project in existence for five years, recently launched its native token amid controversy and popularity.
Garland on X conducted an investigation claiming Pi Network to be a massive scam with red flags like data leaks and criticisms from industry figures.
The project's token saw extreme price volatility, reaching an all-time high before collapsing, with accusations of team manipulation leading to sell-offs.
Garland concluded that Pi Network distracts with promises while insiders drain liquidity, raising questions about the project's legitimacy.