Pi Network Faces Growing Concerns as Nearly Half of Its Active Nodes Are Located in Vietnam.

This data raises concerns about the Pi Network's decentralization. With so many Pi Network nodes concentrated in one country, the network could face disruptions if local policies shift.

Nearly half of the active Pi Network (PI) nodes are located in Vietnam, according to Piscan data.

Out of the 319 nodes, 154—or 48.2%—are operating in the country, and 33 of the 76 connected nodes at press time are also based in Vietnam. This makes Vietnam the most dominant location for the network's infrastructure.

The data raises concerns about the Pi Network's decentralization. With so many nodes concentrated in one country, the network could face disruptions if local policies shift.

Only Two Validator Nodes—Both Controlled by Pi Core Team

Pi Network currently has just two validator nodes, which Piscan confirms both belong to the project's core team.

Validator nodes are essential for maintaining blockchain integrity, and when both are controlled by the same group, the system lacks distribution.

This setup increases concerns over central governance and limits participation from the wider Pi community.

Vietnam's current laws do not recognize virtual assets like Pi Coin as legal non-cash payment tools, putting those who use Pi Coin for such purposes at legal risk.

According to Decree 88/2019/ND-CP and its 2021 update, Article 206, using crypto like Pi Coin for payments can bring fines between 50,000,000 to 100,000,000 VND. Criminal charges are also possible.

Vietnamese officials issued this warning in a March 2025 government post. The same year, the authorities opened an investigation into Pi Network's business model.

Ministry of Finance Pushes for Stricter Crypto Oversight

Vietnam's Ministry of Finance proposed new rules in 2023 to limit cryptocurrency activities and require licensed institutions to handle crypto custody.

The law is still under consideration, and if passed, it could affect Vietnam Pi miners and reduce the number of Pi Network nodes running locally.

These possible restrictions may affect how Pi Network nodes operate in the country, adding uncertainty to the platform's stability.

Piscan data also shows that the Pi Foundation controls over 60.7 billion of the 100 billion total Pi Coin supply, amounting to over 60% of all Pi Coin in circulation.

This concentration raises questions about decentralization and distribution, which many blockchain ecosystems aim to spread across users.

"So long as the team holds some coins, it will never be decentralized," a Reddit user commented.

Several reports have covered allegations of insider selling by the Pi Network team, and one post on the r/PiChain subreddit brought attention to the issue.

BeInCrypto reported that a Pi user on the WEALTHY NODEZ Discord server accused the core team of selling their Pi Coins at a higher price than other users and earning a profit.

The report didn't confirm the allegation but added more scrutiny to the team's actions.

The issue brings attention to how the Pi Coin supply is handled. Combined with validator control and node concentration, the allegation adds to the pressure on the network for transparency.

As more Pi Network users rely on nodes in Vietnam and as local laws grow stricter, operational risks are increasing.