The fraudulent activity emerged when traders identified the Prashu decentralized exchange (DEX) listing multiple fake "PI" trading pairs, complete with fabricated price charts, issuer names, and trading data designed to appear legitimate. Members of the Pi Network community quickly flagged these listings as scams, spreading warnings across social media within hours to prevent unsuspecting users from connecting wallets or making purchases. One user emphasized, "Do not buy or connect your wallet. None of this is legitimate," after verifying that the token addresses were fabricated.
Prashu has a history of suspicious activities; earlier this year, users accused the platform of stealing funds through a fake giveaway that required private key sharing, resulting in losses of USDC and other tokens. Following the new reports, the site was taken offline again. The scam coincided with unverified rumors circulating on X (formerly Twitter) about a potential Pi Network-Stellar partnership, claiming it would integrate 60 million Pi users into the Stellar ecosystem by 2026 for decentralized applications and real-world asset trading. However, developers and long-time Pioneers debunked these claims, noting that Pi operates on its own blockchain without dependency on Stellar, and neither the Pi Network Core Team nor the Stellar Development Foundation has confirmed any cooperation.
Although Pi's blockchain architecture is inspired by Stellar's Consensus Protocol (SCP) and Federated Byzantine Agreement model, the two networks remain independent. Pi's August protocol upgrade, built on Stellar's version 23, added control and scalability layers but did not link the chains. Analysts highlight that such scams are common in crypto, leveraging hype and misinformation, and the Pi Network team repeatedly advises users to rely only on official channels and avoid trading Pi tokens outside its native ecosystem.
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