# ALERT: Beware of Fake Pi Exchanges and Trading Platforms Pi Network users in Korea have recently reported an increase in scam attempts involving fake exchanges and trading platforms. These fraudulent services claim to allow trading of Pi coins, despite the fact that Pi is not yet tradable on any exchange. ## The Current Status of Pi Before discussing the scams, let's clarify the current status of Pi:
- Pi Network is still in the Enclosed Network phase
- Pi coins cannot be transferred to external wallets or exchanges yet
- The only legitimate Pi app is the official one from the Pi Core Team
- No exchange is currently authorized to list or trade Pi ## Common Scams Targeting Korean Pi Users ### 1. Fake Pi Exchanges Numerous websites and apps are falsely claiming to be exchanges where you can sell or trade Pi. These are ALL scams. Some common tactics include:
- Websites with domain names like "pi-exchange.com" or "pi-korea-trade.com"
- Requests to transfer Pi to external wallets
- Claims of "special access" to trading Pi before mainnet launch
- Offering "exchange verification" services for a fee ### 2. Pi Value Misrepresentation Some scammers claim that Pi already has a specific monetary value (e.g., "1 Pi = $100"). This is false:
- Pi's value will be determined by market forces after mainnet
- Anyone claiming to know Pi's exact future value is misleading you
- Predictions of extremely high values are typically used to attract victims ### 3. KYC "Assistance" Services Beware of individuals or websites offering to:
- Complete KYC verification on your behalf
- "Speed up" your KYC verification for a fee
- Provide "guaranteed" KYC approval
- Asks for your Pi passphrase or password
- Requests payment in other cryptocurrencies to "unlock" Pi features
- Claims to have "insider access" to the Pi Core Team
- Shows screenshots of Pi balances in external wallets
- Offers to sell Pi or help you sell Pi before mainnet
- Requests your personal identification documents outside the official Pi app ## How to Protect Yourself 1. Only use the official Pi app from authorized app stores
- Telegram groups claiming to offer "Pi trading signals"
- Telegram chatrooms offering "guaranteed KYC approval"
- Facebook groups advertising "Pi mining acceleration services"
- YouTube channels claiming to have inside information from the Pi Core Team
These services often result in account theft or financial loss. ## Red Flags to Watch For Be suspicious of any platform or individual that:
2. Never share your passphrase or password with anyone
3. Verify information through official Pi Network channels
4. Report scam attempts in the Pi app and to local authorities
5. Be skeptical of offers that seem too good to be true
6. Educate fellow Pioneers about these scams ## Recently Reported Scams in Korea The following scam operations have been specifically targeting Korean Pi users:
Please report these if you encounter them. ## What to Do If You've Been Scammed If you believe you've fallen victim to a Pi-related scam:
1. Report the incident in the Pi app
2. Document all communications with the scammer
3. Report to local police or cybercrime units
4. Alert your banking institution if you shared financial information
5. Share your experience (without sensitive details) to warn others Remember: Pi is not yet tradeable. Anyone claiming otherwise is attempting to scam you. Stay vigilant and help protect the Korean Pi community.
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