As the Pi Network Mainnet plan approaches, various scams surrounding “Pi price” are spreading rapidly. The core team of Pi Network has recently issued another official warning, stating that numerous posts circulating on social platforms X and Telegram claim that the Pi price has reached $314 or even $1000, and all related information is false. Currently, Pi Network has not established an official market price, nor is there any “real-time Pi price.”
The core team emphasizes three points: First, any website displaying the real-time price of Pi is a scam; second, any request for a mnemonic phrase or private key is a scam; third, any private messages claiming to be from Pi official are not trustworthy. This statement is seen as a concentrated response to the recent Pi Network price scams and phishing attacks.
From the perspective of fraud methods, scammers often forge so-called “Pi DEX,” claiming that Pi can be immediately exchanged for USD, and include fake links to lure users into connecting their wallets. In reality, there are no smart contracts on-chain supporting the exchange of Pi for USD, nor are there any records of fund flows related to an official liquidity pool. Once users connect to the counterfeit website, their wallet permissions are stolen, and some victims report that their assets were emptied within minutes.
It is worth noting that the Pi Network is currently not listed on any exchanges, does not have perpetual contracts, liquidation data, or order book depth, and therefore lacks a real price discovery mechanism. Real price fluctuations of crypto assets must be accompanied by changes in on-chain and exchange data, while the recent “Pi surge” has only heated up on social media, and on-chain data has remained completely silent. This obvious mismatch is a typical signal of fraud.
In addition, some unofficial accounts are hyping up the so-called “testnet DEX upgrade,” further confusing the audience. Although Pi Network does operate a testnet environment, the testnet tokens do not possess any market value and should not be confused with real trading or fiat currency exchanges. Scammers are exploiting new users' lack of understanding of the concepts of testnet and Mainnet to carry out fraud.
The core team of Pi Network finally reminds that greed is often the biggest risk to the security of crypto assets. At this stage, Pi holders should ignore all price information and only obtain updates through official channels. Do not connect to unknown websites or disclose wallet information to prevent unnecessary asset losses before the Mainnet launch.
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