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⚠️WARNING⚠️

As the question came multiple times now in the Daily and in my opinion is helpful for the people in r/CryptoCurrency too I want to share this WARNING with you.

On coin market cap it looks as if the price of the Pi token of the Pi network is currently going through the roof on various exchanges.

Huobi, Biconomy Exchange, XT and SuperEx are currently shown on CMC

As the core developer team unfortunately published quite late, these are not the tokens to be mined with the mobile app, but IOU’s that are neither in any connection with the Pi Network Project nor stored on a blockchain or secured by anything.

IOU: An “I owe you” is a document that records the existence of a debt. It is typically considered an informal agreement and is less likely to be legally binding than a formal contract.

I still can’t understand how people fell for this. The true PI Coin has a total supply of 10.000.000.000 coins. If the Price per coin would really be 300$ that would result in a market cap of 3.000.000.000.000$ which is totally absurd.

I hope none of you fell for this rug pull/pump and dump scheme. Do your own research, understand the tech behind your projects and read updates so you are aware of when they get really listed on any exchanges.

I hope I could help anyone with this post.

Have a wonderful day, stay safe and HODL on!!!