The Pi Network community mostly consists of older individuals or those who have never participated in the market, who have been deceived by the duo Nicolas and Cfan, causing significant losses.
With cunning tactics, Nicolas and Cfan manipulated users' psychology by claiming that Pi is a global currency. Many people fell into the trap! They borrowed money from banks to invest at a price of $3/Pi. The price has now dropped nearly 80%; if they borrowed $40k, they are losing $32k ~ 800 million VND.
Many people have invested thousands of dollars to run nodes but were still deceived by Nicolas, who used the tactic of freezing KYC or blocking KYC, causing them to lose thousands of dollars.
The cunning tricks of the fraudster Nicolas
By obstructing KYC or intentionally freezing KYC, Nicolas has prevented about 55/65 million Pi Network members from receiving Pi after 6 years. In this way, Nicolas can safely sell stolen Pi on the market using fake accounts he created, earning millions of dollars each day.
85% of Pi holders ~ 55 million accounts will not be able to sell Pi for at least another 3 years due to the dirty tricks of Nicolas.
Fortunately, Binance and Bybit have recognized this scam and refused to list Pi.
