PiBridge, a key player in the Pi Network ecosystem, has issued a warning regarding what they perceive to be fraudulent behavior by Fantomlive, raising concerns among users who participated in an Initial DEX Offering (IDO) event on the Fantomlive platform. The alarm was sounded through PiBridge’s official Telegram group, alerting users to urgently seek refunds for their investments amid allegations of non-payment of funds raised during the event.
According to PiBridge’s team, Fantomlive reportedly raised $20,000 during the IDO event but has failed to remit the funds to PiBridge as agreed upon. Despite efforts to negotiate with Fantomlive for the transfer of the raised amount, PiBridge claims that their attempts have been met with resistance.
In a statement shared on Telegram, PiBridge expressed its commitment to safeguarding the interests of its users and striving to achieve the best outcomes for the community. However, the team lamented Fantomlive’s alleged breach of trust, accusing the platform of reneging on its commitment to allocate the raised funds for post-funding product development activities.
Furthermore, PiBridge alleges that Fantomlive’s actions have had a direct impact on users of the PiBridge platform, particularly through what they describe as a “mass release” of PiB tokens on the market. In response to Fantomlive’s purported misconduct, PiBridge is urging its users to refrain from engaging further with Fantomlive and similar platforms.
In light of the situation, PiBridge has announced decisive measures, stating that IDO tokens on Fantomlive that have not been vested will be destroyed and burned. Additionally, users who participated in the IDO event are advised to contact Fantomlive for refunds or to register to purchase PIB tokens through alternative means.
What is PiBridge?
PiBridge serves as a hybrid gateway aimed at bridging the gap between the Pi Network and other blockchain networks. By dismantling barriers and facilitating interoperability, PiBridge aims to make Pi accessible to a wider audience while providing the Pi community with transparent financial tools. The platform enables seamless movement of data and assets between the Pi Network and other blockchain networks, with plans to expand connectivity to additional networks such as Binance Smart Chain (BSC), Polygon, and Cosmos.
As PiBridge users navigate the aftermath of the alleged fraud involving Fantomlive, the incident underscores the importance of due diligence and caution in the decentralized finance (DeFi) space. The PiBridge team’s swift response highlights their dedication to maintaining trust and integrity within the Pi Network community, as they continue to pursue their mission of bridging blockchain ecosystems for the benefit of users worldwide. Read Similar Story
Dotchain mainnet is launching 50X to 90X faster than any other blockchain project, which allows users to earncoins using a handy device. Use this link to join and start mining DOT & Play games to Win ACE https://dotchain.network/refer/mejqazi Use my invitation code(mejqazi)to get 1.5/hour base rate.
Hi guys! join Athene Network through my referal code: f134e9bb02 and start earning Athene coins by using your mobile. https://athene.network/white-paper
Here is my invitation code for Alpha Network. Use the invitation code: Mejqazi222. Download the app at http://www.minealpha.net and get 1 Alpha Coin for free! Be part of the FASTEST LAUNCHING blockchain network.
Join Celia Today using my Referral Code 42C5KCLT To Earn 2CLT. Perform various Tasks and be part of the next Big Thing in Cryptocurrency https://celia.finance/register?referral_code=42C5KCLT
Bee Network is the world’s largest web3 interactive platform. Join by invitation and earn Bee for bigger fortune with one click. Use my invitation code to join and get 1 Bee for free: qazi222. Download at https://j.bee.com/s?a=qazi222
FREE RUBIES.($7.76 per one)
Join me now for free mining of digital assets in Rubi Block!,It’s real,KYC is in Progress! Let’s click to link:
https://rubi.click/join/QAZI222
Enter the code “QAZI222”
Mine 1.4 RUBI($7.76)Per day for free!(ONLY ONE CLICK PER DAY).
Keep mining Pi! Reactivate if you have given up! Pi is well worth your few second a day effort. It is the only free mining Layer 1 crypto project with over 100 million people joined and 50 million miners active. Remember , money goes to wherever people are. Pi communities in over 230 countries worldwide are the most vibrant communities. It has over 3.1 million followers in X and will soon catch up with the 2nd most popular crypto Ethereum ‘s 3.2 million. The long journey of 5 year development is near completion. Pi Network has plan to open mainnet in 2024, your efforts will be greatly rewarded soon! The Pi IOU has been trading in several exchanges since January 2023 and the price is at over $30/Pi. Why do you think that it can commend such a high price before it even officially goes public? Please think harder!
Mine Pi for free on your phone!
I am sending you 1π! To claim your Pi, follow link https://minepi.com/yajer72 use (yajer72), your invitation code.
Pi is a new digital currency developed by Stanford PhDs, with over 47 million members worldwide. To claim your Pi, follow this link https://minepi.com/dreamtreats and use my username (dreamtreats) as your invitation code.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 47 million members worldwide. To claim your Pi, follow this link https://minepi.com/daiv101 and use my username (daiv101) as your invitation code.