After Bybit CEO Ben Zhou’s strong statements against Pi Network, many Pi supporters are celebrating what they call “instant karma” following Bybit’s $1.4 billion hack, one of the biggest in crypto history.
Table of Contents
Background
Bybit was recently hacked during a routine transfer, with attackers exploiting vulnerabilities in its wallet system, draining millions in Ethereum (ETH) and staked assets. (Read more: Bybit Hack Update Timeline: North Korea’s Lazarus Group Responsible for Largest Crypto Hack in History)
- While Bybit and onchain transactions proved already that user funds are safe, the hack has fueled mockery and criticism from Pi Network’s community, which had already been at odds with Zhou after he called Pi a scam and refused to list it. (Read more: Quick Take: Bybit CEO Rejects PI Listing)
Pi Network Community Reacts: ‘Karma Hit Fast’
Pi Network supporters have flooded social media, disgustingly claiming that Bybit’s security breach is retribution for the CEO’s negative remarks.
Some Pi believers even went as far as calling Bybit “Byebit”, joking that the exchange is doomed due to its security flaws. Others encouraged crypto users to withdraw their funds from Bybit, claiming it was no longer a safe platform.
Pi Network vs. Bybit
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Bybit has long distanced itself from Pi Network, with Ben Zhou rejecting its legitimacy and refusing to list PI on the exchange.
Zhou recently shared a 2023 Chinese police report, which warned that Pi Network targeted elderly investors and could be leaking user data.
This article is published on BitPinas: Pi Network Supporters Claim ‘Instant Karma’ as Bybit Suffers $1.4 Billion Hack
What else is happening in Crypto Philippines and beyond?
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