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Red Packet Rain is here! 🧧
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#dr_chart_mazen
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Pi Network mining scam, a classic cryptocurrency scheme that relies on the "zero-cost mining" gimmick sweeping the globe, while also hiding risks of pyramid schemes and data leaks.

When the project launched in 2019, it falsely claimed to be developed by a team of PhD graduates from Stanford University, waving the banner of "blockchain revolution" to create a high-end and credible illusion. However, Stanford University has never confirmed the identity of this team, the core members' information has always been vague, and the source code has never been published; the so-called "blockchain technology" is just a façade.

The project focuses on "mining by clicking daily on your phone," with a model of zero power consumption cost, precisely attracting middle-aged and elderly groups as well as novice investors. It also set up a referral mechanism where users can receive a 20% mining power bonus by inviting friends and family to join, forming a three-tier agent system that rapidly expands user scale through this pyramid scheme-like proliferation.

Initially, it makes the number of π coins in users' accounts appear to grow continuously, and spreads rumors like "1Pi=2000 USD." Later, it sets up numerous obstacles at the crucial KYC verification stage for withdrawals; even if users pass the verification, they are still asked to pay under the guise of "taxes" and "activation fees," and after paying, they still cannot withdraw. After claiming to launch the mainnet in 2025, it manipulated prices through false trading scenarios, even deriving new gimmicks like virtual real estate to raise more money.

Registration forcibly requires submission of personal identification, facial recognition, and other information, which is then circulated as commodities on the dark web, becoming a tool for cross-border telecom fraud. Police in many regions of our country have cracked related pyramid scheme cases; the police in Yong'an, Fujian, have criminally detained 12 core promoters and seized funds exceeding 30 million yuan. In 2025, many places, including Rushan, Shandong, issued risk warnings, clarifying its nature as a pyramid scheme scam, while the project team had already cashed out 8 billion USD and fled, leaving many investors with nothing to show for their investments.