Topic: [ SCAM ALERT ] 👉 Pi Chain (Read 202 times)

I wouldn't worry much about the risk faced by those bounty managers, after all it's their duty on the first place to do a preliminary DD before accepting the bounty managing job, if they're scammed --and from them, the bounty participants as well-- it's completely on their line of works, they even actually hold some degree of responsibility for the said bounty if it turned scam.

What concerns me the most is that there is no way to warn investors about the possible hit-and-run case of this project as they didn't have an ANN or any account here that can be tagged and be used as a means to inform the gullible investors, and the fact that it's promoted through an guaranteed-to-be-paid bounty certainly didn't help to dissuade people from investing.

I wondered if it's too much if we asked these BM to attend to this thread and defended themselves on why they accepted the job and/or how confident they are with this employer, and should they stopped the promotion altogether until the case is cleared

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Edit:

Hi, just tying some loose ends here.

Although I've never get an answer from Mr. Mattei¹, the situation on all of their project's channel pretty much summed it all for us that this project is indeed an exit-scam. Their TG is abandoned² and their website has been down for days³ --I checked two days ago, and yesterday, and today, archived-- which according to isitdownrightnow, they've been down for a week⁴.

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Edit 2: Though it's pretty much beating a dead horse at this point, as it's evident that PiChain is a scam project judging from my updates above on edit #1, I think a clarification to clear one's name wouldn't be too late.

Earlier today I finally got a reply from Mr. Mattei, as below,

You have all the facts on your post and after this project scammed their investor you can say the word I told you all so just the plagiarism and using other projects' logos and trademarks are enough to not invest in this project, these two bounty managers are at risk maybe not now, but they will soon be.
There will be more hype and using the PI project because they just made a lot of updates and they have a huge community that's still waiting to get their PI released and listed in exchange.

As far as running two bounty from different admin so this is not the sign of scamming. We have so many examples of this. Citizens Cash project bounty was run by bounty detective and Masulum at same time with different rewards pool and both had been distributed their Busd successfully.
Bounty By Masulum: https://bitcointalksearch.org/topic/distribution-complete-bounty-cryptocitizen-ccash-reward-pool-15k-busd-5387727
Bounty by Bounty Detective : https://bitcointalksearch.org/topic/bounty-detective-cybertrade-12k-busd-reward-pool-distributed-5384369

Moreover i talked with their one telegram group manager and he verified both Bounties below is conversation with Telegram group manager


If we talk about their project so 99% chances that it will be proved scam. Theirs presale will be end in some hours and then everything will be disclose. Here are some more conservation with Their telegram group manager, he has not paid for their work and all devs stop replying which is red sign

I've initiated the contact yesterday with an account that I think is handled by Mattei as I got it by digging through Unagi/Ultimate-Champion's telegram. His last online date was on February first, though, and I've yet to get any response. I'll update this thread accordingly once I've got development from this side.

Those campaign managers should stop this campaign or they will be tagged for helping these scammers scam investors, not all investors are good at research, especially those newbies who are active in mining PI in their cellphones they might believe that they are in partnership with the developers of MinePi.
I have PM the two campaign managers and we'll see what action will they take.

3- The other thing is that they have fake partners on their site. If you look at the partner's sites, you will not find Pi Chain in their lists. In addition, all information related to Pi Network has been plagiarism by the PiChain team. They did not even bother to create a new logo other than the logo of the original Pi network.



4- What also caught my attention was that one of the project admins on Telegram is asking members to send a minimum of 0.1 BNB in order to participate in the pre-sale which will start on 9/02/2023 and the token, staking, and NFT Marketplace will launch within 48 hours from sale completion. Knowing that the Pi Chain domain is only 18 days old, and the presale link on their site is a link that contains ads. https://archive.ph/My8cX

5- All of their collections on Opensea have been made by iconscout.com or downloaded from it [https://iconscout.com/3d/celebrities-5565614]

What seems to me is that they will collect the presale funds and run away, they have nothing but false promises and a copy-and-paste project.

[1] https://www.domainiq.com/domain?pichain.space#/whois

I did a research on this projects and I found out that the projects looks similar Just like as @Rikafip has said but I noticed that this project has some similar features like the minepi project but they have no affiliation with the real minepi project. Is it that they are trying to imitate or mimic the real PiCoin project based in the large followership they have so they could generate some funds and run away or what because these people  claiming to be the founders of the project are they for real or they are just using some other person's details well known to front so  they could get  investors to invest so they could run away with funds. Sometimes last year December something happened where a pool was created on one of the dex and people were quick to purchase without doing proper research on to know wether it is really PiCoin or not and they got scammed. Here they go again. I am not In any way calling them any name but my interest is that why would th y use PiCoin logo to run their project instead of creating their own logo if they really have good intentions. Are they trying to liverage on the already built community of PiCoin through this platform to look genuine why they carry on with their act?
It would be nice their representative here responds to this scam accusations here for clarity.

The fact that this project has nothing to with Minepi and yet they are using the logo and trademark and they are trying to promote their crowdfunding at the expense of Minepi is already a cause of concern, there's ongoing hype on the original Pi and there is news that they are going to be listed in exchanges, although I don't trust the developers of Minepi, this PiChain is capitalizing on the community of Minepi there are reports that they have hundreds of thousands of members and majority are verified or have undergone KYC.
They will not use real profiles because of the legal repercussion in case the developers of MinePi go after their project.

Yep, that was my finding yesterday when reversed image searched team members and question here is whether they just used Pierre Mattei name or is he really behind this. Based on his previous experience (worked as a lead game developer for one of the biggest video game publishing companies in the world) and the fact that he is a co-founder of some sort of football fantasy game, somehow I doubt that he would connect himself to something of low quality as this. But I guess you never know, stranger things have happened.

The best thing to do in order to remove any doubt is if someone contacted him directly and ask does he have any connections to this. I did that in the past and so far only once person in question was actually the part of project and all other times they were just using their images to appear more legit. The other way it would be to go to their Telegram group and ask some tough question and if they start dodging the answer or even deleting message it would be obvious what's going on here.

OP could some of that as so far all he did was shared 2 bounty campaigns links and that's where his digging stopped.

The project where the platform is attached is minepi.com but there's no mention that they are part of the team or they have a partnership with them, pi chain is using their logo and trademark, the original Pi developers never sell their token because it can be freely mine, I already consider this project scam.
The developers of PICHAIN want to deceive the MINEPI community. They had their own crowdfunding and they never give credit to the developers of MINEPI.
I'm sure the team behind MINEPI will issue a disclaimer and warn investors.

They are using the Pi logo trademark to create their own token

I am yet to do any DD on the referred project, not even reading their ANN yet, but can you tell us exactly how they're a scammer simply by having two simultaneous bounty handled by two different BM as your evidence? And what explanation do you exactly asked the BMs to provide?

If you read closely, the bounty run with different rewards, Formula Bounty held a 5,000 $ worth of their token while ahmim held a 7,000$ of BNB. There are instances of projects like them; running two simultaneous bounty handled by either different BM or the same BM.

I am not saying the project is scam or not a scam, it's still undecided because I haven't read any of their materials, what I tried to say is running two simultaneous bounty does not instantly make a project scam, unless you have another proof or other basis that you're yet to show us?

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Ok so I'm running on fumes here as I actually planned to hit the bed early because it's been a long day for me and I was just checking the forum to... well... it's some kind of bed time routine actually. As I'm worn out and not quite sure I can think with crystal clarity, I'll just present my findings here from a quick "give-it-five-minutes-and-then-go-to-sleep-which-turn-into-hours" promise/lie to myself.

So far, the first part of their whitepaper is copied from this site,



And from the three team members they presented, one name checked up to be valid, Pierre Mattei is indeed a Pierre Mattei who worked on Unagi, although he didn't seems to mention Pi Chain on his profile.



P.s.: forgive the image messiness, my trustworthy IMGBB choose to be down right now of all the times it could be, I almost sure the world is conspiring to fill my annoyance to the brim.

You mean running two bounty campaigns, right? From what I can see, those bounty campaigns have different bounty pools; one is in BNB and the other in their tokens so there is a chance that both are legit. We've seen weirder things than some shitcoin running two bounty campaigns at the same time.


If you have doubts, why don't you head over to Pi Chain Telegram group and ask are those bounty campaigns legit? That's really the only way to know for sure what's going on here.

Other than that, Pi Coin looks like yet another shitcoin, like the Pi Network on which it's based on.

I see a project called Pi Chain running two managers simultaneously.
Formula Bounty started the Sarvapram project, just 2 days after publishing the project, ahmim published the same project.
So far two projects are running.

Name the two bounty managers.
1. Formula Bounty
2. ahmim

Bounty link#1 : https://bitcointalksearch.org/topic/bounty-pi-chain-5437128

Archive : https://archive.vn/BNr58

Bounty link#2 : https://bitcointalksearch.org/topic/limited-pi-chain-bounty-campaign-budget-7000-bnb-4-week-5437298

Archive : https://archive.vn/VB1jj

I hope they both explain this from their side. If they don't give any kind of respons, then flag should be created because as far as I know scams have no place in bitcointalk forum.