Crucial Warning for Pi Network (PI) Investors and Users: What You Need to Know

TL;DR

• Perhaps due to its growing popularity, the cryptocurrency space is full of bad actors aiming to exploit victims through various illegal activities, including blatant hacks, phishing attacks, or scams.
• Pi Network’s Core Team has outlined several tips for its users and investors on how they can protect their holdings and stay safe while operating on the Open Network.

Stay Safe

The blog post started with a warning that if users share their wallet passphrases with bad actors or phishing sites, it could result in draining their PI tokens from the PI Wallet, which are completed in irreversible transactions.

The most crucial advice from the team is that users must refrain from interacting with any website, app, pr platform that requests their wallet passphrases, unless it is exactly “wallet.pinet.com” in the Pi Browser. Otherwise, they risk losing their entire PI balance.

Although the team said it is working on improving the Pi Browser’s overall safety, it still remains a browser like others, and it is the individual’s responsibility to “determine the safety and legitimacy of the sites and URLs they visit.”

Users can distinguish Pi Wallets from fake alternatives by the purple color in the navigation bar that contains a PI logo featuring the Core Team apps logo.

“If a scammer creates a fake ‘Pi Wallet’ that tries to phish Pioneers’ wallet secret passphrase, they won’t be able to modify the app URL or the associated UI of the Browser that the official Pi Wallet will have,” reads the post.

Social Media Safety

The team further advised its users to be “especially careful” on social media platforms, as many fail to prevent the circulation of fake websites or misleading ads. They added that no Pi Core Team member will “ever solicit ANY authentication account information (like wallet passphrases, account passwords, verification codes, etc.)” and will never individually call investors.

Users must interact and submit information only to apps that are listed as official and are posted on the Pi Safety Center.

PI Price Update

Let’s take a look at the native token’s price performance as of late. In the past 24 hours, the asset has joined the broader crypto market and has gone through a price slide of around 4%. As such, it remains inches above $0.6.

Its monthly performance, though, is a lot more volatile. Recall that it has pumped from $0.6. to roughly $1.7 on the hype of a massive Pi Network announcement in mid-May, but started to dump even before the news broke. Since then, it has lost almost all gains and, as mentioned above, now fights to stay above $0.6.

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