Recently, Pi Network has introduced new features in its Pi wallet that allow users to purchase Pi directly with cash. However, the project deliberately embedded fake Binance support elements into the Pi wallet interface to mislead users.
This is not an isolated incident. Since 2019, Pi Network has repeatedly employed similar tactics. They continuously delay their so‑called "mainnet launch" by releasing deceptive announcements, including the Hackathon 1 and 2 events (2021–2023). In 2024, they further claimed—without evidence—that “100 DApps were ready for mainnet.”
In March 2025, Pi Network figure Cfan published another misleading statement, asserting that 100 DApps were operational and even organized a fake domain auction. Then in May 2025, Nicolas, another key figure, spread false news about Pi’s participation in the Consensus 2025 conference. These two announcements (March and May 2025) were particularly damaging:
If you had invested $100,000 in Pi during March 2025, you would have already lost nearly $90,000 by now.
The scheme escalated when Pi Network launched “Pi Studio,” which claims to host thousands of DApps. In reality, every application in Pi Studio is worthless, with no real‑world utility.
Following the Pi Studio deception, Nicolas began using Binance’s name and logo—without permission—to trick the community into believing that Binance was associated with Pi Network. This tactic aimed to manipulate users into buying Pi tokens from him. The unauthorized use of Binance’s branding, as shown in videos circulating online, is a blatant act of fraud. Binance should publicly warn users about this project.
Currently, Pi Network is still blocking approximately 50 million accounts that have been mining Pi for 3–6 years. Even millions of users who completed KYC verification as early as 2023 have yet to receive their tokens. The intent appears clear: Nicolas is deliberately withholding these tokens while attempting to sell his own massive holdings—estimated at 35 billion Pi—to unsuspecting buyers.
