Pi Network has cautioned its users against fake Pi coins being sold at decentralized exchanges (DEXs). The announcement is made a day after the official launch of its mainnet and Pi coin on 20 February 2025.
According to Pi Network, some platforms are offering Pi coins that are not real. These unapproved listings are not from Pi Network and could be scams. The network is asking users to be on guard and never buy Pi coins from these unverified sources.
But unlike many other coins, no decentralized exchange has listed the real Pi yet and so far, its coin has been listed on nine centralized exchanges. The ‘Know Your Business’ (KYB) verification is only possible with businesses that have passed the official Pi coin. However, the list of these businesses is found by Pi Network on Pi Network’s official website, and they can hold a Pi Mainnet wallet.
Users are reminded that they can be at risk in dealing with fake listings created by scammers trying to tempt them with lavish incentives. In the past, unauthorized exchanges such as Huobi have already listed Pi coins without permission, which could cause security issues for buyers.
Pi Network recommends all users to check the list of KYB verified businesses before handing any transaction. Losing money or becoming a victim of scams is possible if you choose to use fake listings.
External connections to Pi Network’s Open Network are now possible, but users must watch where they purchase Pi. Before you buy Pi coins, make sure you verify everything to secure your assets.
Also read: Beyond The Hype: The Truth About Pi Network
