The Pi Network Core Team issued a fresh warning after scam posts claimed Pi traded at $314 to $1,000. The posts circulated widely on X and Telegram. They used fake DEX links and wallet connection prompts. According to the Core Team, none of these prices are real. Pi Network has no official market value yet. The team stressed one clear point. Any website showing a “live Pi price” is fake. Any request for a passphrase is a scam and any DM claiming to be from Pi officials is a fraud. The warning comes as hype-driven scams rise ahead of Pi’s future Mainnet plans.
Fake DEX Links Target Wallet Access
Most scam posts followed a similar playbook. They advertised a fake “Pi DEX,” and promised instant swaps from Pi to USD. They pushed urgency and they used screenshots to look legitimate. However, on-chain data shows no such activity exists. The real-time scans found zero verified Pi wallet outflows linked to official liquidity pools
No smart contracts exist that support Pi-to-USD swaps. In short, there is no on-chain proof backing these claims. Meanwhile, scammers relied on off-chain tricks. They redirected users to lookalike domains. Once connected, wallets were drained. As a result, several users reported full balance losses within minutes.
No Price, No Liquidity, No Liquidations
Despite bold price claims, Pi Network has no open-market trading. There are no exchange listings and no perpetual contracts and there are no liquidation events. There were no exchange inflows, no order books, and no liquidation spikes linked to Pi. This matters because real price moves always leave a trail. Fake ones do not.
Before the scam posts, Pi-related chatter stayed flat. After the posts, social mentions spiked sharply. However, on-chain activity did not move at all. That mismatch raised immediate red flags. It aggregates social hype and on-chain signals in real time. When hype rises without data support, alerts trigger instantly.
Testnet DEX Claims Add to Confusion
Adding to the noise, an unofficial account promoted a “Testnet DEX upgrade” with Pi-denominated pairs. While Pi Network does run controlled test environments, the Core Team has not announced any live trading system. Testnet activity does not equal real liquidity. Testnet tokens hold no market value. They cannot be swapped for fiat. Yet scammers blurred this line on purpose. As a result, newer users mistook development updates for price discovery. That confusion fueled the scam wave.
The Core Team closed its warning with a simple message. Specifically, they noted that greed is the biggest risk in crypto. Instead, patience and security protect assets. Therefore, currently, Pi holders should ignore price posts. Furthermore, they should verify updates only through official channels and they should never connect wallets to unknown sites.
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