According to the previous announcement of the Pi Network team, the Pi virtual currency officially opened the network at around 3:00 p.m. on February 20, 2025 (Vietnam time).

Talking to PV VietNamNet , Mr. Dang Minh Tuan, Chairman of the Vietnam Blockchain Alliance, said that Pi has more people interested than some other virtual currencies, because it is advertised as being backed by a famous university professor in the US, free to join, has a reward point model to attract new members...

Furthermore, many 'optimists' take the example of Bitcoin, which was very low in the beginning, but now its value has even increased by 1 billion times. They expect Pi to increase as quickly and help many people change their lives.

"However, investing in cryptocurrencies always has many potential risks, not just Pi. Because in Vietnam, cryptocurrencies are not legal, there is no management agency to control fraud and market manipulation, which means they are not protected by law," Mr. Tuan warned, noting that people need to learn very carefully about technology, must have the skills to use wallets and concepts related to virtual currencies.

"Be careful to avoid being taken advantage of and scammed by bad guys," Mr. Tuan added.

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The Pi cryptocurrency opened its network at around 3:00 p.m. on February 20, 2025 (Vietnam time). Photo: Trong Dat

Meanwhile, an expert in this field said that it is not easy to mine Pi to make money. Because according to Pi's algorithm, at first you can mine a lot, but later it becomes more difficult because the operating model is deflationary.

"Those who are not tech-savvy should not participate in investing, mining, and trading Pi virtual currency. If you are not careful, you may fall into the trap of scammers who take advantage of the Pi trend for personal gain. Mining Pi is simple, just press the phone button. Many people say they have mined 1,000-2,000 Pi but in fact they have not been able to sell it because it has not been sent to their wallets," he said.

After mining Pi, there are many other steps such as unlocking the wallet to transfer money from the wallet to the exchange (must be a reputable exchange in the world such as OKX ...), and having a cryptocurrency trading account to be able to buy and sell. With these steps, only qualified people can do it.

“There are currently many people calling for investment capital to mine Pi, similar to a hui. There is a risk that the person calling for investment capital, after collecting the money, may run away or use that money to invest in other cryptocurrencies to make personal profits,” he warned.

In Vietnam, Pi coin was investigated by the Department of Cyber ​​Security and High-Tech Crime Prevention and local police to clarify related activities.

In 2023, the head of the Department of Cyber ​​Security and High-Tech Crime Prevention noted: Regarding the virtual currency Pi, the Department is coordinating with local police to investigate. There will be no business activity with such a high profit margin. Signs of such multi-level and enticing activities pose many risks.