{"id":81287,"date":"2023-07-05T16:34:06","date_gmt":"2023-07-05T13:34:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81287"},"modified":"2025-09-11T21:56:44","modified_gmt":"2025-09-11T18:56:44","slug":"vietnamese-authorities-flag-risks-in-pi-cryptocurrency-operations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vietnamese-authorities-flag-risks-in-pi-cryptocurrency-operations\/","title":{"rendered":"Vietnamese authorities flag risks in Pi cryptocurrency operations."},"content":{"rendered":"<p>The Department of Cybersecurity and Crime Prevention in Vietnam\u2019s high-tech sector announced the initiation of an investigation into Pi-related cryptocurrency activity. As reported by<a href=\"https:\/\/e.vnexpress.net\/news\/news\/vietnam-launches-investigation-into-cryptocurrency-pi-4623837.html\"> VNExpress<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cOperations of such models are extremely complex and uncontrollable. There is no other business that could yield such a high level of income,\u201d<\/em> said Le Suan Minh, head of the department.<\/p>\n<\/blockquote>\n<p>The agency identified signs of a network marketing scheme by project participants<a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A1%D0%B5%D1%82%D0%B5%D1%82%D0%B2%D0%BE%D0%B9_%D0%BC%D0%B0%D1%80%D0%BA%D0%B5%D1%82%D0%B8%D0%BD%D0%B3\"> \u0441\u0435\u0442\u0435\u0432\u043e\u0433\u043e \u043c\u0430\u0440\u043a\u0435\u0442\u0438\u043d\u0433\u0430<\/a>.<\/p>\n<p>Authorities warned citizens against investing in cryptocurrency models with abnormally high profit margins due to \u201cthe presence of many risks\u201d.<\/p>\n<p>The Pi Network appeared in 2019 and two years later it reached a peak of popularity. The cryptocurrency lacks transparency and could be used for illicit activities such as fraud, according to the publication.<\/p>\n<p>In 2021, media reported that the Pi Network app, which allows mining digital currency on mobile devices, may be<a href=\"https:\/\/forklog.com\/en\/news\/pi-networks-mining-app-linked-to-17-gb-vietnamese-users-data-leak\"> involved in a leak of 17 GB of personal data<\/a> of Vietnamese users.<\/p>\n<p>AIMultiple analysts at the time assessed Pi Network and concluded that the platform shows signs of a multi-level marketing scheme.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Department of Cybersecurity and Crime Prevention in Vietnam\u2019s high-tech sector announced the initiation of an investigation into Pi-related cryptocurrency activity.<\/p>\n","protected":false},"author":1,"featured_media":81288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1323,1246,1674],"class_list":["post-81287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-investigations","tag-scammers","tag-vietnam"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81287"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81287\/revisions"}],"predecessor-version":[{"id":81289,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81287\/revisions\/81289"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81288"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}