$PI , known for its "mobile mining" concept and boasting a large user base, is facing the most severe challenge in its development history. In early December, the United States District Court for the Northern District of California accepted a class-action lawsuit against Pi Network’s parent company, SocialChain Inc., and its founders, with the plaintiffs seeking up to $10 million in damages. The lawsuit accuses the project team of carrying out a years-long fraudulent scheme, including unauthorized transfers of user tokens, secretly selling up to 2 billion Pi tokens, and deliberately delaying the mainnet migration, resulting in asset devaluation. Although the Pi core team has remained silent so far, the community has strongly questioned the key data presented in the lawsuit. Impacted by this news, the price of PI tokens fell by 5%, and technical analysis shows that it is hovering around a critical support level, with the future trend remaining uncertain.