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#BTC #PI Warning Alert: Three SEC action signals
Last month, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury ( FinCEN ) conducted a search into the banking operations of the core team of Pi and discovered that at least 43 million dollars in "ecosystem funds" had been transferred through offshore companies, the origin of which is questionable.
The vulnerability of the KYC system in the Pi application is serious, and data sellers on the dark web are selling 27 million user data for 0.03 BTC, raising concerns about the security and compliance of Pi Network.
The project's developers refused to disclose the technical agreement with the Stellar Development Fund, there are suspicions of code plagiarism, and legal risks continue to accumulate.