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Crypto Scams On The Rise Before Pi Network Mainnet Goes Live

Key Takeaways
  • The cryptocurrency market is highly volatile, and experiencing frequent fluctuations.
  • Not every day witnesses the launch of new cryptocurrencies or the activation of new networks, some are created solely for fraudulent purposes.
  • Pi Network has recently gained attention, but its mainnet has yet to go live, leaving crypto experts uncertain.
04-May-2024 By: Sakshi Jain
Crypto Scams On The

Investors in Dilemma Regarding Pi Coin Amid Increasing Crypto Scams

Pi Coin has become a trend in the cryptocurrency market, assembling discussions among every crypto investor in just a few days. Even big investors in the crypto market are closely monitoring news related to this token. However, until the Pi Network goes live, its token cannot be traded. 

Therefore, Pi Coin currently holds no value, leading to doubts among crypto experts. These doubts are intensifying due to the increasing scams associated with the name of Pi Coin. Recently, numerous accounts engaging in scams under the guise of Pi Coin were traced. Scammers were defrauding investors and users on social media platforms by offering to sell Pi Coin. This rising fraud has created skepticism in the crypto community regarding Pi Coin.

Investors lost money in crypto scams before Pi Network Mainnet Launch

There are doubts among investors regarding Pi Coin escalated when many users fell victim to scams while attempting to exchange this coin. These scammers targeted users through active groups on the social media platform Facebook. They entice them into fraudulent schemes via group posts. To earn high profits, the users flow into these scammers and turn into scammed victims. Users and investors fall for these scams and buy Pi Coins prior to the Pi Network Mainnet Launch date.


As per Coin Gabbar's information, these increasing scams associated with Pi Coin could instill fear among users and investors, which is natural for this network to suffer. Although the team associated with this network claims that Pi Network will go live on June 28. They have not provided any information to users about what they should do until then. Crypto experts are also worried that if new investors joining the crypto market become victims of these scams associated with this project, it will create a bad impact on the perception of investors, which is not good for the future of the crypto market.

Also Read: Pi Coin Set New Highs Of 47 Dollars Before Mainnet Launch

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