#PI 【Breaking News】Pi coin street stall economy appears in New York, Stanford PhD accused of "Blockchain Butcher"

On May 20, 2025, an absurd scene unfolded in front of the Charging Bull statue on Wall Street in New York: Pi Network founder Nicolas Kokkalis set up a purple tent to sell Pi coins to passersby in the name of the "Stanford Blockchain Laboratory," with a price tag boldly stating "1 Pi = 314159 USD," attracting the collective attention of financial elites. Novice trader Jack Smith lamented to reporters that he had invested all his savings of 100 USD into Pi coins three days prior, and now his account value had dropped to zero.

■ Street Farce: Tech Elites Turn into Street Vendors
Witnesses captured video showing Nicolas draped in a purple cloak emblazoned with the "π" symbol, shouting through a megaphone, "Don't miss Bitcoin, don't miss Pi coin." His booth displayed a forged "Stanford University technology patent certificate" and a PS-composite "contract signing photo with Musk." Ironically, those who scanned the code to purchase coins on-site immediately received a fraud alert text from the Chinese police, stating, "This project has been listed as a financial scam by 37 countries worldwide."

■ The Tears of Retail Investors: The Harvesting Chain Behind the Evaporation of 100 Dollars
23-year-old Jack trembled as he presented the trading record: On May 17, he bought 31 Pi coins at a unit price of $3.2, but by the 19th, the price had plummeted to $0.08. This aligns with Chainalysis on-chain data — a market maker created a false boom through 200 puppet accounts, leading to a single-day withdrawal volume that reached 83% of the trading volume, directly draining liquidity. Jack knelt on the steps of the New York Stock Exchange and shouted: "This is a cannibal game wrapped in the symbol of pi!"

■ Regulatory Iron Fist: 47-story Dubai Building Becomes Evidence
As the event unfolds, Interpol has simultaneously disclosed that the Nicolas team used 23 billion yuan of illegal proceeds to purchase the 47-story "Pi Ecosystem Center" in Dubai, which has already been sealed off. Bundles of cash, 23 Rolls-Royces, and counterfeit "Nobel Blockchain Award" trophies were found inside the building. According to data from the Ministry of Public Security of China, the project, through 478 standardized scripts, has caused losses for 35 million investors, with 94% of participants not receiving more than 1000 Pi coins.

■ Experts warn: Free mining is actually cognitive slaughter
Michael Green, a former advisor to the Federal Reserve, shredded the Pi coin brochure during a CNBC live broadcast, pointing out that its "Stellar Consensus Algorithm" is actually a digital game built on Alibaba Cloud servers, with a code plagiarism rate of 91%. Even more alarming is that the privacy data of 60 million users is circulating on the black market at $0.3 per entry, precisely targeting scam calls for health products.

At this moment, Nicolas's street stall has been sealed by SEC enforcement officers, and the symbol of pi on the purple promotional sign is distorted in the neon light. This six-year-long "mobile mining" carnival has finally turned into a pile of shredded paper under the feet of the Wall Street bull, in the collision between blockchain technology and human greed.

(This article is compiled from reports by the Ministry of Public Security's economic investigation, on-chain analysis from Chainalysis, and eyewitness testimonies. The picture shows Jack kneeling.)