Since its launch in 2019, Pi Network has attracted millions of users around the world with a simple and magical promise: “Mine a digital currency for free from your phone, and one day it will be worth a lot.”

But over time, the outlines of a project began to emerge—one that could be recorded as the biggest soft scam in the history of cryptocurrencies, and possibly in the history of the internet itself.

1. The Psychological Illusion of “Free”

Pi Network relied on a powerful psychological principle: free scarcity.

Users log in daily, tap a button to "mine", and receive coins without paying anything. This feeling of owning something rare for free made millions commit daily to running the app—while in reality, they were gaining no real tangible value.

2. A Disguised Pyramid Scheme

To increase mining speed, users are asked to invite their friends. The more referrals you bring, the faster you mine. This system caused the project to spread like wildfire, but at its core, it's very similar to pyramid marketing models, which focus on expansion rather than value or product.

3. No Value, No Transparency, No Product

Despite millions of users, Pi Network hasn’t listed the coin on any real exchange for a long time. What they presented instead were fake "demo stores" within a closed environment (Closed Mainnet).

No transparency has been provided regarding the source code, economic value, or a clear real-world launch plan.

4. Massive Collection of User Data

The app asks for broad permissions such as:

Access to contacts

Geolocation

Phone usage tracking

All this without clear explanations of how the data is used or protected. If this data is misused or sold, it alone constitutes a dangerous exploitation of millions of users.

5. The Big Dump Trick: Who Will Buy Pi?

One of the most alarming points is that the founding team holds a huge percentage of the coins (estimated at over 20–25%).

When the open market is launched, users will be allowed to buy Pi with real dollars or other currencies under the pretense that it has become “valuable.”

But the reality is:

Demand will come from regular people hoping to profit.

The massive supply will come from the team itself, who got the coins for free and will now sell them for real money.

This clever plan enables them to dump billions of coins, profiting massively from the pockets of ordinary users—while the coin’s value crashes later due to extreme supply inflation.

6. Millions Wasted Their Time for “Nothing”

For years, people have invested their time, effort, and even relationships to promote Pi Network, hoping for future wealth.

The result so far: no real way to sell, no tangible profits, no clear project—only promises renewed every year.

---

Conclusion

Pi Network is not just a suspicious coin—it’s a project built on psychological manipulation, personal data collection, the efforts of millions, and a financial plan that paves the way for a massive digital wealth dump in favor of a single party at the expense of everyone else.

If these steps are carried out as intended, Pi Network may go down in history as the largest soft scam in terms of the number of people affected.

Let us know your thoughts if you’d like us to continue exposing the secrets of other crypto projects.

Please share to help raise awareness.