Monday, September 27, 2021

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Disclaimer: This text has been up to date to incorporate feedback from the Pi Community, which claims that no Vietnamese identification playing cards had been held on its servers.

Pi Community, a cryptocurrency mining app for cellular customers, might have been related to 17GB price of non-public information leaks, a Vietnamese information outlet reported on Monday.

The treasure trove of non-public information was apparently taken from the Know Your Buyer checks of customers of Pi Community, in response to the one that posted it to hacker hangout RaidForums on Thursday.

The identification playing cards of an estimated 10,000 Vietnamese residents had been positioned on the market, together with related residence addresses, cellphone numbers and electronic mail addresses. The vendor positioned a price ticket of $9,000 on the information, payable in both Bitcoin (BTC) or Litecoin (LTC).

Phien Vo, a moderator of a Vietnamese Pi Community group chat channel, told VnExpress that Pi Community’s KYC checks are carried out by a 3rd occasion, including that Vietnamese identification playing cards like these in query aren’t suitable with the app. Nonetheless, Vo did point out that an older model of the app was suitable with the playing cards at one level.

“To carry out KYC verification on Pi Community, Vietnamese would wish to make use of their passports. Just some customers who used earlier variations of Pi may carry out KYC verification utilizing their driver licenses, however up to now the system has but to simply accept Vietnamese identification playing cards,” Vo stated.

Vietnam’s Ministry of Public Safety’s cybersecurity division has since launched an investigation into the matter.

An unbiased investigation into Pi Community’s perceived worth was lately conducted by Cem Dilmegani, a tech entrepreneur and founding father of AIMultiple. Written weeks previous to the latest information leak, the overview concluded that Pi Community bore the hallmarks of a multilevel advertising and marketing scheme, or an affiliate internet marketing program.

The Pi app reportedly calls for customers log in day-after-day and click on a button to obtain their PI cash. No blockchain consensus algorithm, like proof-of-work or proof-of-stake, is used within the app, and customers can acquire elevated mining charges by referring different individuals. The PI token is just not but traded on exchanges and has no greenback worth.

The app reportedly sells information for promoting income from the second its utilization begins. On condition that advert area can promote for the next worth with private person data included, many have been led to invest that the Pi app is designed solely to siphon personally figuring out data from its customers.

Cointelegraph reached out to a Pi Community spokesperson for remark. Justin Wu, of Pi Community’s advertising and marketing and development crew, reiterated that the app’s KYC was carried out by a 3rd occasion, and that no Vietnamese identification playing cards had been held on Pi Community’s servers. Wu added that an inner verify didn’t uncover any proof of a knowledge leak. Wu stated Pi Community’s referral program was like others within the cryptocurrency area, and is barely meant to incentivize the participation of household and pals.