Fake Pi Coin appears on Prashu DEX amidst unverified rumors of Stellar integration.

Fake Pi Coins (PI) have appeared on the Stellar blockchain (XLM) at a decentralized exchange (DEX), prompting users to issue a warning.

Recently, a scam has emerged amid rumors that Pi Network will leverage Stellar as a payment layer for upcoming decentralized applications (dApps).

Scam alert: Fake PI list on the Prashu platform

Screenshots circulating on X have shown an interface from the Prashu platform, where many “PI” assets are said to be available for trading. These listings include information about prices and issuers designed to mimic legitimate tokens, creating an impression of authenticity.

PI Network scam on Parshu | Source: X/fen_lengHowever, prominent members of the Pioneers community quickly spoke out to warn, confirming that these listings are fake and advising users not to interact with this platform.

“This is a scam – do not buy PI on the Stellar network. According to what we know, Prashu may be involved in this scam. The addresses linked to the tokens are clearly fake,” a Pioneer said.

Notably, Prashu, marketed as a Stellar-based DEX, has suspended operations. This is not the first time this platform has been involved in similar controversies.

In August, a user publicly accused Prashu of theft after a fraudulent giveaway, leading to participants revealing their private keys and losing cryptocurrency assets.

“WARNING SCAM!!! They have stolen my tokens. Someone organized a giveaway – 1000 XLM to win – you had to make any transaction on Prash. They provided a link to an exchange, and the only “Wallet Connect” option was a private key. You had to like the post, retweet, and comment “done”. And I did that. The next day, USDC and TKG disappeared from my account,” this user explained.

Confusion about the protocol: The path of Pi Network compared to Stellar

This scam occurs simultaneously with unverified reports of a partnership between Pi and Stellar. A user claimed that Pi Network will launch dApps for trading real assets, using Stellar as the payment layer. The post stated,

“Pi Network is expected to launch dApps for trading real assets in early 2026, with XLM as the payment layer. This will add 60 million users to the Stellar XLM ecosystem with just one integration, unlocking immediate access to its entire DeFi infrastructure. Parallel trading and smart contracts will enable trading of real assets.”

However, the community quickly questioned the reliability of these claims. Many Pioneers pointed out that Pi Network has been operating on its own blockchain, so there is no need for Stellar.

“That doesn't even make sense. Pi will use its own blockchain for payments,” another user responded.

Furthermore, both the Pi Core Team and the Stellar Development Foundation have not made any official announcements confirming such a partnership. The absence of official statements further emphasizes that the story about this collaboration may stem from community speculation rather than verified developments.

Meanwhile, Pi Network and Stellar have a complex relationship that often causes confusion. Although Pi Network borrows some aspects from Stellar, the blockchains remain completely separate. Owning XLM does not provide any privileges within Pi Network, and actual PI transactions do not interact with Stellar's ledger.

The official document has clarified this distinction: The consensus mechanism of the Pi Network is governed by two main technologies: the Stellar consensus protocol (SCP) and the Federated Byzantine Agreement (FBA).

This allows for energy-efficient validation through reliable graphs, avoiding the energy demands of the proof-of-work method. This separation was emphasized in Pi Network's announcement in August regarding the upgrade of the protocol from version 19 to 23.

“Pi Network is preparing for an important upgrade: transitioning from protocol version 19 to version 23. The Pi protocol is adapted from the Stellar protocol. This version is a custom Pi protocol built on the foundation of pulling upgrades from Stellar protocol version 23, allowing for new layers of functionality and control,” the development team stated.

The recent incident involving the fake token once again highlights the speed at which misinformation can spread within cryptocurrency communities—especially when there are rumors about prominent partnerships. Although Pi Network and Stellar share certain technical roots, they remain separate ecosystems.

Therefore, users need to be cautious, verify information from reliable sources, and avoid interacting with platforms that have not been verified to claim to list or trade Pi Coins.

Mr. Teacher