Pi NetWork is Scam?

The Pi Network, launched in 2019, claims to offer easy cryptocurrency mining via smartphones, boasting over 60 million users. However, many argue it’s a scam. Critics point to its lack of transparency—no detailed whitepaper or open-source code exists, raising doubts about its blockchain legitimacy.

The referral-based reward system resembles a pyramid scheme, incentivizing recruitment over utility. Despite its mainnet launch in February 2025, Pi coins remain unlisted on major exchanges, and their value is speculative, with no real-world use established. Reports, including a 2023 Chinese police warning, highlight data leaks and exploitation, particularly targeting vulnerable groups like the elderly. While it requires no financial investment, users invest time and personal data, potentially for nothing.