I have not been very active over the past few days because I was conducting extensive research. I had been receiving numerous messages from the community reporting that individual accounts were offering to buy Pi Coins at $15, $30, or even $50 per coin. I thoroughly investigated these claims and have identified the fraudulent structure behind them. It’s essential to share this with the community.
Here’s how this scam operates:
Scammers monitor social media posts related to Pi and target users. They approach you with an offer like:
‘We want to buy your Pi Coins directly from your wallet, not from an exchange, and we’ll pay $20 per coin.’
They then request a screenshot of your wallet balance for verification and send you a link to a page that appears to be a Pi Network wallet portal. However, this page is a fake replica, embedded with keyloggers and malicious software.
Once you input your wallet recovery phrases on this fake site, your private keys are compromised, and your funds are stolen.
Please quote this message, retweet it, and help raise awareness.
Awareness is the strongest defense to protect our community.
Bybit CEO Ben Zhou’s statements about Pi Network reveal a deep lack of understanding and a superficial assessment of the crypto ecosystem.
Pi Network is not just a “press a button and earn money” project; it is one of the largest community-driven, open-source, and KYC-verified decentralized finance initiatives in the world. With over 60 million active users and 25 million KYC-verified accounts, Pi Network’s adoption and strength are undeniable.
Ben Zhou’s ‘Ponzi scheme’ comparison is completely uninformed and lacks technical foundation. Ponzi schemes operate by paying early investors with the money of new entrants. Pi Network, on the other hand, is an ecosystem that grows through community strength without requiring mandatory investments and aims to establish real-world utility. Yes, Pi has been listed on certain exchanges, but evaluating it before the full launch of its mainnet and complete ecosystem development is premature and misleading. Pi Network continues to evolve based on decentralization and transparency principles, and no speculative statement can change this.
Centralized exchanges like Bybit fail to understand and properly assess truly decentralized projects. One of the core principles of the crypto ecosystem is financial freedom and fair access for individuals. However, Bybit misrepresents Pi Network’s strong ecosystem without fully understanding its fundamentals.
Pi Network does not rely on centralized exchanges. With a robust ecosystem, sustainable technology, and strong community support, it will secure its place in the future of finance. Manipulative statements and shallow assessments will not stop the rise of decentralization.
Reminder: The Grace Period requires both KYC and Mainnet migration to be completed by 8:00am UTC on March 14, 2025, to avoid forfeiting most of your Pi other than Pi mined within the rolling window of the last 6 months before your Pi is migrated. Learn more https://t.co/G4y12QU6qi
Don’t be fooled by manipulations!
Short-term price movements do not define the real value of a project. Strong ecosystems and community-driven networks will always prevail. Stay informed, stay patient, and trust in decentralization!
I’m calling on the entire crypto community!
#Binance must make an official announcement regarding the listing of #Pi Network, and #CoinMarketCap should treat Pi fairly by placing it in its rightful ranking. Exchanges must stop manipulating the price!
I invite everyone to retweet this post and stand together in unity. Remember, exchanges cannot exist without us—we are the ones keeping them alive! We must not allow them to control and manipulate us. They need to listen to us!
Let’s stay united and tag the leaders and officials under this post to make our voices heard!
@PiNewsMedia I already accepted that these unverified coins will be gone forever after Feb 28 since they can't pass kyc or they cannot open their acc anymore. Possible reason to fail kyc could be :
1. Registered name is not the same with their ID
2. Not following KYC standards or rules
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