#PI# [Breaking News] Pi coin street stall economy appears on the streets of 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 dollars," attracting the attention of financial elites. Rookie trader Jack Smith lamented to reporters that he invested all his savings of 100 dollars into Pi coins three days ago, and now his account value has dropped to zero.
■ Street Farce: Tech Elites Turn Into Street Vendors
A video taken by a witness shows Nicolas wearing a purple cloak with the "π" symbol, holding a megaphone and shouting, "Don't miss out on Bitcoin, don't miss out on Pi coin." His booth displayed a fake "Stanford University technology patent certificate" and a PS-composited "photo signing a contract with Musk." Ironically, those who scanned the code to purchase coins on-site immediately received a fraud alert SMS 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 his trading records: on May 17, he purchased 31 Pi coins at a unit price of $3.2, and by the 19th, the price had plummeted to $0.08. This matches the on-chain data from Chainalysis — a market maker created a false prosperity through 200 puppet accounts, leading to a daily withdrawal volume of 83% of the trading volume, directly draining liquidity. Jack knelt on the steps of the New York Stock Exchange and shouted: "This is a cannibalistic game wrapped in the symbol of pi!"
■ Regulatory Iron Fist: 47-story Dubai Building Becomes Evidence
As the event unfolds, Interpol simultaneously disclosed: the Nicolas team used 23 billion yuan in illegal proceeds to purchase the 47-story "Pi Ecosystem Center" in Dubai, which has been sealed off. Bundles of cash, 23 Rolls Royces, and counterfeit "Nobel Blockchain Awards" trophies were found inside the building. According to data from the Chinese Ministry of Public Security, the project has caused losses to 35 million investors through 478 standardized scripts, with 94% of participants not receiving more than 1,000 Pi coins.
■ Experts warn: Free mining is actually cognitive slaughter.
Michael Green, a former advisor to the Federal Reserve, tore apart the Pi coin pamphlet during a live broadcast on CNBC, 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 60 million users' privacy data 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 off by SEC law enforcement officers, and the pi symbol on the purple promotional sign is distorted in the neon lights. This six-year-long "mobile mining" frenzy has finally turned into a pile of shredded paper under the feet of the Wall Street bull, following the collision of Blockchain technology and human greed.
(This article is compiled from reports by the Ministry of Public Security's Economic Investigation Bureau, Chainalysis on-chain analysis, and eyewitness testimonies. The picture shows Jack kneeling.)