Pi Network Issues Urgent Warning on Passphrase Scams Amid EU Talk
TLDR
- Pi Network token surged by 6%, hitting $0.25 amid speculation over a major upgrade.
- Pi Network issues urgent passphrase scam warning to protect users’ funds.
- Pi Network rumored to have achieved EU regulatory recognition as a Layer-1 asset.
- Pi Network expands utility with Mobix, a delivery service now accepting Pi payments.
Pi Network’s $PI token recently surged by around 6%, reaching a brief high of $0.25, amid growing speculation regarding a major update scheduled for November 28. The token’s price jump resulted in its market cap rising back above $2 billion, indicating renewed investor confidence. As anticipation builds, concerns over security and regulatory developments are also increasing within the community.
Pi Network’s Urgent Warning on Passphrase Scams
Alongside the excitement over the potential upgrade, Pi Network has issued an urgent warning to its community about a surge in passphrase-related scams. The platform cautioned users to never share their passphrase, as it leads to complete loss of wallet control and funds. Once stolen, funds are essentially unrecoverable due to the non-custodial nature of Pi’s wallet design.
Pi Network has advised victims of these scams to report any stolen funds immediately through its official reporting portal. They are encouraged to provide necessary documentation such as screenshots, usernames, wallet addresses, and contact information linked to the scam. The platform also recommends that users suspecting a compromise should create a new wallet to safeguard their assets.
Pi Network’s security-focused accounts have emphasized that user awareness remains the strongest defense against such scams. As the ecosystem grows and attracts more attention, both from investors and scammers, the community’s vigilance is becoming increasingly important.
Claims of EU Regulatory Recognition
Amid growing speculation, some community members have claimed that Pi Network has achieved recognition as a Layer-1 digital asset under European Union standards. These claims suggest that Pi’s status aligns with certain digital identity standards and ISO-level classifications, though no official confirmation has been made by Pi’s core team. The rumored status is seen by supporters as an important step in giving Pi Network a legal and technical foundation that could support broader use cases in the future.
While this remains speculative, the community has been buzzing with excitement at the possibility of Pi Network gaining regulatory approval within the EU. This would distinguish Pi from many other cryptocurrency projects, potentially enabling it to move closer toward real-world adoption and usage. However, it is important to note that these claims have not been verified, and no concrete details have been released by Pi Network’s official channels.
November 28 Update Fuels Speculation and Market Activity
The date of November 28 continues to be a focal point for Pi Network enthusiasts, with rumors circulating about a significant upgrade or release on this day. Speculation centers around the potential for Pi Network to launch public trading or introduce decentralized exchange (DEX) capabilities. Some community members also believe that the long-rumored Global Core Value (GCV) of $314,159 may be incorporated into the ecosystem on this date.
There is also speculation about whether Pi will begin public trading on traditional exchanges or if tokenized versions of Pi will be listed first. Many community voices expect that internal trading systems will be activated before Pi can be exposed on external platforms. The uncertainty surrounding the upgrade has led to a mix of excitement and confusion, with users eagerly awaiting clarity on what will be revealed on November 28.
Expanding Utility Through Mobix Delivery Service
Beyond speculation on token price and regulatory status, Pi Network is expanding its real-world utility through platforms like Mobix. Mobix, a Pi-integrated commerce platform, has launched delivery services that accept Pi payments. This development marks a significant step toward increasing Pi’s use as a functional currency in everyday transactions.
By offering delivery services that accept Pi tokens, Mobix provides an example of how Pi could transition from a mining-based project to an active payment system. The move strengthens the narrative that Pi Network is not just about speculative trading but also developing tangible use cases. As more Pi-based platforms emerge, the network’s utility continues to grow, adding credibility to the idea of Pi as a legitimate digital asset.
The post Pi Network Issues Urgent Warning on Passphrase Scams Amid EU Talk appeared first on CoinCentral.
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