The Vietnamese authorities pointed out the risks of transactions with Pi cryptocurrency

Vietnam min
Vietnam min

The Department of Cybersecurity and High-Tech Crime Prevention of Vietnam announced the initiation of an investigation into Pi cryptocurrency-related activities. VNExpress writes about it.

“The operations of such models are extremely complex and uncontrollable. There is no other business that could generate such a high level of income“, – said the head of the department Le Xuan Minh.

The agency revealed signs of organization by the participants of the network marketing project.

The authorities have warned citizens against investing in cryptocurrency models with abnormally high profit margins due to “the presence of many risks.”

The Pi network appeared in 2019 and experienced the peak of popularity two years later. Cryptocurrency lacks a level of transparency and can be used for illegal activities like fraud, according to the publication.

Recall that in 2021, the media reported that the Pi Network application, which allows you to mine digital currency on a mobile device, may be involved in the leakage of 17 GB of personal data of Vietnamese users.

Even then, AIMultiple experts evaluated the Pi Network and concluded that the platform has signs of a multi-level marketing scheme.

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