{"id":118070,"date":"2023-07-05T08:16:32","date_gmt":"2023-07-05T08:16:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/vietnam-investigates-pi-cryptocurrency-after-major-fanfare-crypto-news\/"},"modified":"2023-07-05T08:16:34","modified_gmt":"2023-07-05T08:16:34","slug":"vietnam-investigates-pi-cryptocurrency-after-major-fanfare-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/vietnam-investigates-pi-cryptocurrency-after-major-fanfare-crypto-news\/","title":{"rendered":"Vietnam Investigates Pi Cryptocurrency After Major Fanfare\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Regulatory authorities in Vietnam have started investigating the Pi cryptocurrency, announced the Department of Cybersecurity and High-Tech Crime Prevention.<\/p>\n<p>Speaking at a meeting in Hanoi last week, department head Le Xuan Minh said: \u201cThe operations of cryptocurrency models like Pi have been exceedingly complex and unmanaged recently.  There is no other business activity that can generate such high levels of income online.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Minh mentioned that there are indications of people being forced by cryptocurrency promoters to join business models similar to multi-level marketing schemes.  The police in various areas are specifically looking into activities related to the Pi cryptocurrency.<\/p>\n<p>Authorities have cautioned individuals about investing in cryptocurrency schemes that promise unusually high profits or use multi-level marketing structures.  Minh stated that these activities carry a lot of risks and requested investors to approach with caution. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/e.vnexpress.net\/news\/news\/vietnam-launches-investigation-into-cryptocurrency-pi-4623837.html\">Reported<\/a> a local publication VN Express.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>The local publication also noted that the Pi Crypto Network lacks a certain level of transparency essential for a blockchain project.  He also cautioned that cryptocurrency promoters have enticed people into &#8220;business models that resemble multi-level marketing.&#8221;<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h3>About the Pi Network<\/h3>\n<p>The Pi Network started in 2019 and gained popularity in Vietnam in 2021. This is because users can earn PI tokens by using their mobile phones, instead of having to buy expensive mining equipment.  However, the PI network doesn&#8217;t seem to serve any other purpose except for exchanging PI tokens.<\/p>\n<p>Some experts say that this cryptocurrency lacks transparency and may be used for fraud or collecting personal data.  An expert in HCMC said that many people still trust Pi because they think there&#8217;s no harm in joining.  However, users are at risk of having their personal information stolen.<\/p>\n<p>It&#8217;s important to note that cryptocurrencies are not officially recognized as money in Vietnam.  Using, trading, or issuing them as payment can lead to a fine of up to VND100 million (US$4,240).<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"quads-location quads-ad86313 \" id=\"quads-ad86313\" style=\"float:none;text-align:center;padding:0px 0 0px 0;\">\n<!--   --><\/p>\n<p><!-- \n\n<div class=\"ad-container-layout\">\n      \n\n<div class=\"ad-container\">\n        <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n          <noscript><img decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\"><\/noscript>\n        <\/a>\n        \n\n<div class=\"ad-content\">\n          <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bit.ly\/3JbHb8M\">\n            <span class=\"ad-title\">Bitget is a Leading Derivatives Trading Platform. 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His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets.  He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge.  In free time he reads thriller fictions novels and sometimes explores his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD153407\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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Speaking at a meeting in Hanoi last week, department head Le Xuan Minh said: \u201cThe operations of cryptocurrency models like Pi have been exceedingly complex and unmanaged recently. There is no other business activity that can [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":118071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-118070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118070"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118070\/revisions"}],"predecessor-version":[{"id":118072,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118070\/revisions\/118072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/118071"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}