Fake Pi coins appear on Prashu DEX amid unconfirmed Stellar integration rumors

A fraudulent listing purporting to offer Pi Coins (PI) for trading on the Stellar (XLM) blockchain has appeared on a decentralized exchange (DEX), prompting users to issue warnings.

The scam surfaced amid rumors that Pi Network may leverage Stellar as a payment layer for its upcoming decentralized applications (dApps).

Scam Alert: Fake PI List Appears on Prashu Platform

A screenshot circulating on X (formerly Twitter) showed the interface of the platform Prashu, which contains several “PI” assets that are said to be available for trading. The listing included price and issuer details designed to mimic genuine tokens, giving the impression of authenticity.

PI Network Fraud in Parsh. Source: X/fen_leng

But prominent pioneers were quick to sound the alarm, branding the list fake and urging users not to interact with the platform.

“This is a scam. Do not purchase PI on Stellar Network. As far as we know, Plush is involved in a scam. The address linked to the token is clearly fake,” Pioneer said.

In particular, Prashu, which is marketed as a Stellar-based DEX, has been suspended. This is not the first time the platform has been embroiled in such controversy.

In August, a user publicly accused Plush of fraudulent prize theft by inducing participants to reveal their private keys, resulting in the loss of their crypto holdings.

“Scam Alert!!!! They stole my tokens. Someone organized a giveaway – 1000 XLM to win – you had to make a trade on Prash. They provided a link to the exchange, and the only “Wallet Connect” option was a private key. You had to like the post, retweet it, and comment “done.” And I did it. The next day, USDC and TKG disappeared from my account. ” the user explained.

Protocol confusion: Pi network paths and Stellar

This scam coincided with unconfirmed reports about the Pi-Stellar partnership. One user claimed that Pi Network will launch real-world asset trading dApps using Stellar as a payment layer. The post read:

“Pi Network plans to launch dApps for RWA trading with XLM as the payment layer by early 2026. This will add 60 million users to the Stellar XLM ecosystem with a single integration, providing instant access to the complete DeFi infrastructure. Parallel transactions and smart contracts will enable trading of real-world assets.”

But again, the community quickly questioned the credibility of these claims. Many Pioneers pointed out that Pi Network already runs on its own blockchain, so Stellar is not needed.

Another user replied: “That doesn’t make sense. Pi will use its own blockchain for payments.”

Moreover, neither the Pi Network core team nor the Stellar Development Foundation have made any official announcement confirming such cooperation. The lack of official statements further emphasizes that the partnership story is likely derived from community speculation rather than verified developments.

Pi Network and Stellar, on the other hand, have a long-standing and often confusing relationship. Although Pi Network borrows from Stellar, the blockchain remains independent. Owning XLM does not provide any privileges within the Pi network, and actual PI transactions do not interact with Stellar’s ledger.

The official documentation makes this distinction clear. The Pi Network’s consensus mechanism is adapted from two main technologies: Stellar Consensus Protocol (SCP) and Federated Byzantine Awards (FBA).

This enables energy-efficient verification with trust graphs and avoids the power demands of proof-of-work. This separation was reiterated in Pi Network’s August announcement of an upgrade from protocol version 19 to 23.

“Pi Network is preparing for a significant upgrade, moving 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 upgrades from the Stellar protocol version 23, enabling new layers of functionality and control,” the team said.

The latest fake token incident once again highlights how quickly misinformation can spread in the cryptocurrency community, especially when rumors of high-profile partnerships gain traction. Although Pi Network and Stellar share certain technical roots, they remain separate ecosystems.

Therefore, users should be cautious, verify information from reliable sources, and avoid engaging with unverified platforms that claim to list or trade Pi Coin.

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