False Listings Claiming to Offer Pi Coin (PI) Trading Appear on Stellar-Based DEX, Sparking Concern
Multiple false listings purporting to offer Pi Coin (PI) trading have emerged on a Stellar-based decentralized exchange (DEX), raising alarms among users and reigniting debates over misinformation within the crypto community. The scam surfaced when traders discovered a platform named Prashu displaying several “PI” trading pairs, complete with fake price charts, issuer names, and trading data.
These fraudulent listings appeared convincing enough to mislead unsuspecting users. However, members of the Pi Network community quickly identified the scam and raised warnings. Within hours, alerts spread across social media urging investors to avoid engaging with the platform. One user warned, “Do not buy or connect your wallet. None of this is legitimate,” after confirming that the addresses behind the so-called Pi tokens were fabricated.
### A Repeat Offender
Prashu, the exchange hosting these listings, has a history of questionable activity. Earlier this year, users accused the platform of orchestrating a fake giveaway that asked participants to connect wallets using their private keys — resulting in the loss of USDC and other tokens. Following the most recent reports, Prashu has been taken offline once again.
### Rumors Fuel the Scam
The timing of the scam coincided with new online rumors suggesting that Pi Network would soon integrate with Stellar to build decentralized applications and enable real-world asset trading. These claims, which quickly went viral on X (formerly Twitter), proposed that the collaboration would bring 60 million Pi users into the Stellar ecosystem by 2026.
However, both developers and long-time Pi Pioneers promptly dispelled the rumors, emphasizing that Pi operates on its own blockchain and does not depend on Stellar’s infrastructure. No official statements have been made by the Pi Network Core Team or the Stellar Development Foundation to confirm any such partnership.
### Shared Roots, Separate Networks
The confusion partly arises from a technical connection: Pi’s blockchain architecture draws inspiration from Stellar’s Consensus Protocol (SCP) and its Federated Byzantine Agreement (FBA) model. Yet, the two networks remain distinct and independent.
Pi’s August protocol upgrade—built upon Stellar’s version 23—introduced new layers of control and scalability but did not create any linkage between the Pi and Stellar blockchains.
### Common Crypto Scam Tactics
Analysts note that scams like this are frequent in the crypto space, especially when speculative rumors about partnerships or token launches spread unchecked. Fraudsters exploit trending narratives by creating fake tokens on public blockchains, capitalizing on hype and misinformation to deceive users.
The Pi Network team has continuously urged its community to rely only on official channels and to avoid trading any “Pi” tokens outside of the native Pi blockchain ecosystem. Authentic Pi transactions occur exclusively on the Pi blockchain—not on Stellar or any other public network.
### Final Thoughts
This recent hoax serves as a potent reminder of how quickly rumors and opportunistic actors can exploit crypto communities. It underscores the critical importance of verification in a space where imitations often spread faster than the truth.
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*The information in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*
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**Author:**
Alexander Zdravkov is a reporter at Coindoo with over three years of experience in the crypto space. Fluent in German, he is known for his logical approach and skill in identifying emerging trends in digital currencies. His in-depth analyses and daily reports contribute significantly to the Coindoo team.
https://coindoo.com/pi-coin-warning-scammers-target-traders-with-fake-tokens/