The pi network community, mostly older people or those who have never participated in the market, was scammed by the couple Nicolas and Cfan, causing heavy losses.
With the cunning trick of nicolas and cfan, they manipulated users' psychology by saying that pi is a global currency, many people fell into the trap! They borrowed money from investment banks at a price of $3/pi. Currently, the price has dropped nearly 80%, if they borrow $40k, they are losing $32k ~ 800 million VND.