Pi Network’s PI Token Defies Market Crash Triggered by Binance Hack

Pi Network’s PI token climbed almost 3% over the past day to above $0.078, even as a hack against Binance, described as the largest cryptocurrency exchange by market cap, triggered a broad crypto selloff. The attack, by bad actors believed linked to North Korea, drained more than $6 billion, with initial estimates valuing the loss at about $6.3 billion; about $3 billion was frozen on-chain by service providers and blockchain partners. Bitcoin dropped from more than $80,000 to about $76,000, and nearly 240,000 traders were liquidated as daily liquidations exceeded $1.5 billion, roughly 90% after the attack. PI’s market capitalization stood above $880 million, making it the 64th-largest digital asset.