How Pi Coin "targets" elderly people in China, as the invisible digital pyramid scheme is draining retirement funds?

According to a report from the crypto world Depth article, when you hear the phrase "I have a once-in-a-lifetime opportunity to get rich" from an elder at home, especially accompanied by the words "Pi coin", a sophisticated eyewash targeting the elderly may have already begun. This digital trap, packaged as "mobile Mining", is spreading at an alarming rate among the elderly population in China, not only draining their retirement funds but also destroying family relationships, pushing countless elderly individuals step by step into a dual abyss of financial and mental distress.

####Behind "Mobile Mining": The True Face of Pi Coin

Most young people’s initial understanding of Pi coin often comes from a few keywords mentioned by older family members: virtual currency, mobile Mining, and the ability to earn massive wealth. When fearful children search online, they discover that Pi coin has been questioned by regulators in multiple countries for its resemblance to pyramid schemes and scams. As early as 2023, the online police in Wuxi had published an article stating: "Pi coin eyecandy, specifically targeting the elderly."

In simple terms, Pi coin (full name Pi Network, also known as "π coin" or "派幣") is a type of virtual currency that can be understood as a "middle-aged version of Bitcoin" after being packaged. However, unlike Bitcoin, Pi coin has not yet been listed on most mainstream exchanges, its price is extremely unstable, and it can currently only be used within the closed ecosystem of Pi Network, with no way to exchange it for any actual value in external markets.

In a report by CCTV in 2023, Pi coin was clearly questioned by the public security for having fraudulent characteristics. However, the same thing has become the "only opportunity for the elderly to get rich in their later years" and is seen as the "new era treasure book for wealth that has been left in the folk."

####Precision Brainwashing: How Pi coin Gradually Conquers the Minds of the Elderly

#####Step 1: Harmless Start and Social Fission

Most middle-aged and elderly people who can enter the Pi crypto world as "friends" have a common characteristic: they have plenty of time but nothing to do. In this situation, when acquaintances around them lure them with phrases like "Since you have nothing to do, do you want to find something easy to do? No investment, you can earn big money just by playing with your phone," it's easy to fall for it.

Newcomers in the "Coin Group Chat" will be exposed to various seemingly credible information:

· "The distribution coin is very valuable now"

· "Many places abroad can directly spend Pi coin"

· "1Pi=2000 USD"

Some members in the group even claim that they are "ready to go to Macau to buy a car with Pi coin," and there are even "group friends living overseas" sharing absurd information like "Pi coin has great purchasing power across the sea, even Trump spends Pi coin to buy private jets." This information is obviously unbelievable to young people, but the middle-aged and elderly groups are easily swayed by it.

#####Step 2: Knowledge Armament and Self-Brainwashing

As time goes by, the "friends of the pie" who are moderately poisoned begin to wear reading glasses every day to attend classes, take notes, and study financial knowledge, learning concepts such as "blockchain," "ecosystem," "trading," and "empowerment." This process is equivalent to a second knowledge explosion in the lives of the middle-aged and elderly group. Throughout their lengthy self-study career lasting several years, they have completed a second brainwashing of themselves.

#####Step 3: The Subtle Transition from Free to Paid

The most cunning aspect of Pi coin is that Mining does not actually require spending money, but its associated industries set traps step by step. The "hash power" during the Mining process is similar to stamina or coins in a game; although it can be played for free, the well-designed nodes will gradually guide users to spend money.

Many middle-aged and elderly friends buy "nodes" from "insiders" as accelerators to acquire more Pi coins, and soon they can burn through a family's savings and retirement funds.

####Layered money traps

The profit model of the Pi coin eyegash is diverse and concealed:

Technical service fees: In the "Pi Friends Club" located in the corners of small sinking cities, whenever there is a software upgrade or technical issues arise, helping to solve basic problems can charge anywhere from dozens to over a thousand.

High-priced training courses: middle-aged and elderly individuals who are already invested will seek "teachers who have become successful in the crypto world," spending tens of thousands of dollars to participate in 10 online classes, learning how to "obtain the keys to wealth."

Fake exchange eyewash: The most dangerous is the "Pi coin exchange" eyewash. When hearing that "there are places domestically to exchange Pi coins," many fans will go to great lengths to get there. Under "non-disclosure agreements" and mysterious operations, they ultimately return burdened with loans or online debts, yet still firmly believe in the value of Pi coins.

####Why do elderly people become perfect targets?

The reason why Pi coin can accurately target the elderly population lies in its design, which perfectly aligns with the psychological characteristics of older adults:

Time-rich: Retired seniors have plenty of free time to engage in Mining activities.

Wealth anxiety: Concerns about financial security in old age, yearning for the "last wealth train".

Technical unfamiliarity: Limited understanding of new technologies and the internet, making it difficult to distinguish between true and false.

Work Ethic: Pi coin emphasizes "hard work" and "learning", which aligns with the values of the older generation.

Social needs: Satisfy social needs through "Invite Friends" activities and groups.

What is even more terrifying is that when the elderly are completely brainwashed, they will start to promote Pi coin to their children, alienating the parent-child relationship into a "downline development" multi-level marketing model. They will use phrases like "You can't look down on the few hard-earned money made over a year of hard work," and "You look down on me for not believing in Pi coin," to attack those children who are unwilling to join.

####How to protect the elderly at home?

The anonymity of Pi coin makes it one of the hardest scams to prevent. It starts with zero investment and pure brainwashing, luring friends to spend a lot of time and energy before enticing them to make a series of seemingly "voluntary" monetary investments. This "boiling frog" approach often leads to children discovering it when it's too late.

For children, the first lesson in preventing the family from going bankrupt can only start with understanding what Pi coin is and increasing regulatory sensitivity. When you get home today, please check if there is a Pi coin app on the mobile phones of the elders at home; early intervention may save family assets and relationships.