Scammers have begun targeting Pi Network users with fraudulent schemes, using a fake platform called Prashu to create seemingly legitimate trading pairs and mislead unsuspecting investors. These listings on the Prashu exchange displayed fake price charts, issuer names, and trading data, prompting immediate warnings from members of the community who quickly identified them as fraudulent. Users urged caution, posting that their accounts had been compromised after connecting their wallets with fabricated addresses. 😓 The platform’s history further underscores these concerns, as Prashu has already been linked to past scams involving stolen funds. 💰 The platform has since been taken offline again. 🚫
The timing of this scam coincides with rumors claiming Pi Network will integrate with Stellar in the coming months, allowing for real-world asset trading. However, both the Pi Network team and Stellar Development Foundation have denied these claims, stating their chains operate independently and no such collaboration exists.
The confusion stems from a technical similarity: Pi’s blockchain architecture draws inspiration from Stellar’s Consensus Protocol (SCP) and Federated Byzantine Agreement (FBA), but remains independent. While the August protocol upgrade on Pi added new layers of control and scalability, it did not connect with Stellar’s infrastructure. 🤯
Analysts say scams like these are common in the crypto space, especially when speculation about partnerships or token launches spreads without verification. By leveraging trending narratives and creating fake tokens on public networks, fraudsters prey on hype and misinformation.
The Pi Network team has repeatedly urged users to rely only on official channels and avoid trading any