Pi network Faces Steep Decline Amidst Unimpressive Updates
Pi Network (PI) is experiencing a tough period. On June 17, the token value fell by 11%, reaching a low of $0.5311. This drop erased the gains made in the previous days. The market’s overall negative trend didn’t help either.
The decline started on June 15 after an announcement about the.pi domain auctions becoming a separate app. This news didn’t excite investors. Users are more interested in the core mobile crypto “mining” feature, which rewards them for app activity. However,thes rewards are decreasing,causing dissatisfaction. By March 205,users could only earn 2.1 Pi per month, worth less than $2.
Unless the team can inspire users to hold onto their Pi tokens long-term, the network may continue to lose value. The declining mining rate is a core feature of the project.
PiChain Password Leak Shakes Pi Ecosystem
A security breach at PiChain Global, an e-commerce platform using Pi tokens, caused a password leak.Users were advised to change their login credentials immediately. PiChain Global is not officially linked to Pi Network, but the incident damaged trust in the broader ecosystem.
PiChain Global warned users about the leak, urging them to secure their accounts.They advised downloading the PCM Wallet from the official website and binding their email for added security.
While PiChain Global is not officially part of Pi network, the leak still impacted the network’s reputation. The company behind the Pi Chain Mall e-commerce platform faced unauthorized access risks due to the leak. This incident highlights the importance of robust security measures in the crypto space.
