Scam Alert: Fake Pi Coins Flood DEX Amid Stellar Rumors – Proceed with Caution!

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Once again, the wild west of decentralized exchanges (DEX) is proving to be a minefield for unsuspecting users, as fraudulent listings of Pi Coins (PI) have appeared, promising the moon on the Stellar (XLM) blockchain.

This chaos has arisen amidst whispers (oh, the rumors!) that Pi Network might, just might, use Stellar as the magical settlement layer for its upcoming decentralized applications (dApps). Spoiler alert: It’s all hot air. 🚨

Scam Alert: Fake PI Listings Surging on Prashu Platform

Viral screenshots circulating on X (yes, formerly Twitter) show the Prashu platform showcasing a dazzling array of “PI” assets up for trade. The listings, replete with price and issuer details, look eerily legitimate. It’s almost like a well-dressed con artist… until you notice the red flags. 🚩

But wait, the cavalry arrives! Pioneers of the Pi Network (yes, the smart folks) quickly flagged these listings as fraudulent and, as expected, urged everyone to stay far, far away from the platform.

“This is a scam – do not buy PI on the Stellar network. For all we know, Prashu might be in on it too. The token addresses? Fake. Fake. Fake,” a Pioneer confidently stated.

🚨 “PEOPLE ARE ASKING” about $Pi Network token on the Stellar $XLM network.

A friendly reminder: There is no verified Pi token on #Stellar.

Always DYOR (Do Your Own Research) before buying ANYTHING. Don’t be fooled by shiny objects. 😎

– Lumexo | Stellar Wallet (@lumexodapp) October 18, 2025

Ah yes, Prashu – the Stellar-based DEX that has “mysteriously” been suspended. Not their first rodeo, though. Remember August? A user accused them of theft after a shady giveaway led to a disastrous loss of crypto holdings. Hilarious, right? 😅

“SCAM ALERT!!!! They stole my tokens! Someone set up a giveaway – 1000 XLM to win – and you had to do… well, anything on Prashu. They handed out a link with only a private key option. What did I do? Liked, retweeted, commented, and bam – the next day, my USDC and TKG vanished!” the user lamented.

Protocol Confusion: Pi Network vs. Stellar (Spoiler: They’re Not Even Dating)

The scam seems to coincide with yet another round of unverified rumors suggesting a Pi-Stellar partnership. Because, of course, everyone loves a good “will-they-won’t-they” story, especially when it involves crypto. One enthusiastic user posted:

“Pi Network will launch dApps for real-world asset trading by early 2026, using XLM as the settlement layer! That’s right, 60 million Pi users coming to join the Stellar XLM ecosystem, unlocking instant access to DeFi. Oh, and parallel transactions and smart contracts will totally make this work!”

Of course, the crypto community wasn’t buying it (and neither should you). Many Pi Pioneers pointed out that Pi Network already runs on its own blockchain, so, uh, Stellar isn’t needed. But hey, who needs facts when you’ve got a good rumor, right?

“That doesn’t even make sense. Pi uses its own blockchain for settlement,” another user quipped.

And, as is often the case, neither Pi Network’s Core Team nor the Stellar Development Foundation has confirmed anything. No official statement = probably just a couple of folks with a lot of time on their hands. 🕒

Meanwhile, Pi Network and Stellar have always had a confusing relationship. Yes, Pi Network borrows some concepts from Stellar (a little like borrowing your neighbor’s Wi-Fi), but the two blockchains are distinct. Owning XLM? Doesn’t give you any Pi perks. And actual Pi transactions? They don’t touch Stellar’s ledger. Ever.
So, no need to panic. (Well, at least about this part.)

Official docs lay out the facts: Pi Network’s consensus mechanism is adapted from two technologies-Stellar’s Consensus Protocol (SCP) and the Federated Byzantine Agreement (FBA). So yes, there’s a family resemblance, but that doesn’t make them related. 🧐

In Pi Network’s August announcement about its protocol upgrade, the team spelled it out plainly:

“Pi Network is preparing an upgrade from protocol version 19 to version 23. This custom Pi protocol is built on the Stellar protocol, but doesn’t actually need Stellar for anything.”

The latest fake token fiasco serves as a stark reminder: Crypto rumors spread faster than a fire in a dry forest. 🌲🔥 While Pi Network and Stellar may share some technical DNA, they are still two entirely separate ecosystems. So, let’s all agree to be cautious, verify from credible sources, and for heaven’s sake, stop engaging with sketchy platforms claiming to list Pi Coins. 🙄

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2025-10-20 17:34