Pi Network, along with many virtual currencies advertised as exploitable with apps on a phone, has been repeatedly warned by tech experts to be a scam.
Recently, many virtual currencies have been announced as exploitable on mobile phones. With a smartphone, users simply download the application then the machine will mine automatically without consuming battery, according to the announcement of the team developing these virtual currencies.
These virtual coins are now quite downloaded on the Play Store as well as the App Store, thanks to the attraction of participants in the form of “ seedlings ” in virtual money groups on social networks, which means that the people who come in first to call people in. enter the code to dig together. This has helped a Pi Network virtual currency have 13 million users, as ICTnews reflected not too long ago.
Evaluating the Pi, Dr Nguyen Le Anh, a math and computer expert in Vietnam, recently warned: “Pi is just a clock, it creates the feeling of using electricity. A silver mining phone.” .
By analyzing the code, this PhD in Mathematics and Physics brought to light many of the irrationalities of Pi Network. If the extraction is done over the phone, of course, the battery will be depleted and the machine will become very slow.
But in this case, while many people believe that Pi mining performed on mainframe and mobile systems is just community building, Dr. Le Anh said predicted “if there is indeed such a Pi, it’s not in your phone, you don’t have a Pi, you only have the systematic right to give Pi money “.
“The scam system will show the Pi exchange where the price is increasing every day. At that time, you will be advised to pay a little more Vietnamese Dong and buy a lot of Pi. Then you will be taken out, as you have provided the scammer with all the information needed to take all your money. This scam system, which hasn’t cheated on you yet, will feed you for a while and calculate the exact moment to cheat you all, ”warns Dr Le Anh.
He concluded: “Right now the PI app is just a digital clock that you think is money. This is just a scam. The audience trying to promote the superiority of Pi is making a lot of money without losing anything and trying to block information about the fraudulent nature of PI virtual currency.
Despite recent warnings, the Pi Network group is still active with over 123,000 Vietnamese members. Many users are also keen to share KYC (Identity Verification) and conduct daily surveys, which basically use their personal information in exchange for virtual currency.