Mobile crypto ‘mining’ app possibly connected to personal data leak


Pi Network, a cryptocurrency mining app for mobile users, may have been connected to 17GB worth of personal data leaks, a Vietnamese news outlet reported on Monday.The treasure trove of personal data was apparently taken from the Know Your Customer checks of users of Pi Network, according to the person who posted it to hacker hangout RaidForums on Thursday.The identity cards of an estimated 10,000 Vietnamese citizens were placed for sale, along with connected home addresses, phone numbers and email addresses. The seller placed a price tag of $9,000 on the data, payable in either Bitcoin (BTC) or Litecoin (LTC).Phien Vo, a moderator of a Vietnamese Pi Network group chat channel, told VnExpress that Pi Network’s KYC checks are performed by a third party, adding that Vietnamese identity cards like those in question aren’t compatible with the app. However, Vo did indicate that an older version of the app was compatible with the cards at one point. “To perform KYC verification on Pi Network, Vietnamese would need to use their passports. Only some users who used earlier versions of Pi could perform KYC verification using their driver licenses, but so far the system has yet to accept Vietnamese identity cards,” Vo said.Vietnam’s Ministry of Public Security’s cybersecurity division has since launched an investigation into the matter. An independent investigation into Pi Network’s perceived value was recently conducted by Cem Dilmegani, a tech entrepreneur and founder of AIMultiple. Written weeks prior to the recent data leak, the review concluded that Pi Network bore the hallmarks of a multilevel marketing scheme, or an affiliate marketing program.The Pi app reportedly demands users log in every day and click a button to receive their PI coins. No blockchain consensus algorithm, like proof-of-work or proof-of-stake, is used in the app, and users can gain increased mining rates by referring other people. The PI token is not yet traded on exchanges and has no dollar value.The app reportedly sells data for advertising revenue from the moment its usage begins. Given that ad space can sell for a higher value with personal user info included, many have been led to speculate that the Pi app is designed only to siphon personally identifying information from its users. Cointelegraph reached out to a Pi Network spokesperson for comment. This article will be updated should they reply.

Ora Goodwin
Ora Goodwin
I am a well-known and respected author in the cryptocurrency field. I have been writing about Bitcoin and other digital currencies for over 5 years, and my work has appeared in some of the most respected publications in the space. I am also a regular speaker at industry events, and my insights into the crypto market are highly sought after by both media and investors. In addition to my writing and speaking engagements, I am also an active advisor to several blockchain startups, and I sit on the board of directors for the Blockchain Education Network.

Similar Articles

Most Popular

DEGA Revolutionizes Fundraising with their Gamified Multichain Initial Stakepool Offering

In a unique partnership with MELD, Cornucopias, and soon-to-be-revealed major players in the blockchain industry, DEGA has announced their Gamified Multichain Initial Stakepool Offering...

NFTs for Fundraising and Charitable Initiatives

In today's digital age, Non-Fungible Tokens (NFTs) have gained significant attention and have emerged as a powerful tool for fundraising and supporting charitable initiatives....

Blockchain for Verifiable Electronic Voting

Blockchain technology has been revolutionizing various industries, and one area where its potential is being explored is in the realm of verifiable electronic voting....

Rollups: Enhancing Scalability for Ethereum and Other Blockchains

In recent years, blockchain technology has gained significant attention for its potential to revolutionize various industries. However, as the adoption of blockchain applications continues...

EHP Technology Is Scientifically Proven By Globally Renowned Institutions

Every new technological development or creation can only gain mainstream traction if it has been verified by relevant authorities to do what it claims...

Securing DeFi Infrastructure: Key Considerations for Developers

With the rapid rise of decentralized finance (DeFi), it has become crucial for developers to prioritize the security of DeFi infrastructure. DeFi offers a...

Environmental Impact of NFTs and its Security Implications

In recent years, Non-Fungible Tokens (NFTs) have gained immense popularity in the world of art, collectibles, and digital assets. However, along with their rise...

Centralized Exchanges (CEX) vs. Decentralized Exchanges (DEX)

Cryptocurrency exchanges play a vital role in the world of digital assets, facilitating the buying, selling, and trading of various cryptocurrencies. When it comes...