Pi Coin的价格在5月12日飙升至近1.7美元，然后跌至1美元，使许多投资者遭受了沉重的损失。

专家警告说，PI网络内的潜在价格操纵和人造通货膨胀。

The price of Pi coin soared to nearly $1.7 on May 12 before plunging back to $1 just hours later, leaving many investors with heavy losses.

5月12日，PI硬币的价格飙升至近1.7美元，然后在仅仅几个小时后才降至1美元，这使许多投资者遭受了巨大的损失。

Experts have warned of potential price manipulation and artificial inflation within the Pi Network.

专家警告说，PI网络内潜在的价格操纵和人造通货膨胀。

"This is a classic sign of price manipulation. After a period of sustained rise, the coin suddenly faced a strong correction, reducing the price by nearly $0.7 in a short span of three hours," said Nguyen Ha Minh Thong, founder of Cabo Capital in Ho Chi Minh City, in a statement on May 12.

“这是价格操纵的经典迹象。一段时间持续上升后，硬币突然面临着强有力的纠正，在短短三个小时内将价格降低了近0.7美元，” Ho Chi Minh Citaus在5月12日的一份声明中说。

On the afternoon of May 12, Pi suddenly jumped from $0.7 to $1.68. Yet by the evening, it dropped sharply to $1 and is now fluctuating between $1 and $1.3.

5月12日下午，PI突然从0.7美元跃升至1.68美元。然而，到了晚上，它急剧下降到1美元，现在波动在1至1.3美元之间。

The project has a maximum supply of 100 billion Pi. With 1.4–1.5 billion tokens expected to be unlocked over the next 12 months, downward pressure on the price is likely unless demand rises proportionately.

该项目的最大供应量为1000亿PI。预计在接下来的12个月内将解锁1.4-15亿个令牌，除非需求按比例增加，否则价格下降的压力很可能。

Currently, about 7 billion Pi are in circulation, but the Pi Core Team reportedly holds over 35 billion, raising concerns about centralized control and the risk of large-scale sell-offs.

目前，大约70亿PI正在流通，但据报道，PI Core团队持有超过350亿，对集中控制和大规模抛售的风险引起了人们的担忧。

At its listing, the price fell from $2.2 to $0.6 within 24 hours. In April, it dropped from $2.99 to $0.4. These crashes have caused major losses for many investors.

在上市时，价格在24小时内从2.2美元下降到0.6美元。 4月，它从2.99美元降至0.4美元。这些崩溃给许多投资者造成了重大损失。

Trading volume on May 12 reached nearly $2 billion. This opens up the possibility that whales or exchanges are manipulating Pi's price to trigger FOMO buying, only to dump it later and crash the price.

5月12日的交易量达到了近20亿美元。这打开了鲸鱼或交易所正在操纵PI的价格以触发FOMO购买的可能性，只是在以后将其丢弃并崩溃。

"It's important for users to stay alert, avoid FOMO, and prioritize financial safety and data privacy before investing time, money, or personal information into Pi Network," Thong added.

Thong补充说：“对于用户，在将时间，金钱或个人信息投入PI网络之前，保持警惕，避免FOMO并优先考虑财务安全和数据隐私。”

The project offers a unique opportunity to earn cryptocurrency for free. However, there are growing concerns over withdrawal restrictions, extreme price swings, lack of transparency, and scam risks.

该项目提供了一个独特的机会，可以免费获得加密货币。但是，人们对退出限制，极端价格波动，缺乏透明度和骗局风险的关注日益加剧。

"The recent surge in Pi coin's price is a positive signal, but it doesn't mask the project's underlying issues," Thong said.

Thong说：“ Pi Coin价格最近的激增是一个积极的信号，但并没有掩盖该项目的潜在问题。”

Social media and online communities devoted to Pi Network have been flooded with posts hyping the coin and misleading users.

专门用于PI网络的社交媒体和在线社区充斥着帖子，宣传了硬币和误导用户。

During price spikes, many posts falsely claim that Pi will continue rising, encouraging panic buying. When the price drops, others use flawed logic to reassure investors - arguing that buying at $0.7 and selling at $1 still means a profit - or spread unverified rumors about upcoming Binance listings or imminent appearances by Pi's founders.

在价格上涨期间，许多职位错误地声称PI将继续上升，鼓励恐慌购买。当价格下跌时，其他人则使用有缺陷的逻辑来保证投资者 - 认为以0.7美元的价格购买，以1美元的价格购买意味着利润 - 或传播有关Pi的创始人即将出现的二元列表或即将出现的未验证的谣言。

Such content has led many to purchase Pi at inflated prices, resulting in significant financial losses.

这种内容导致许多人以膨胀的价格购买PI，从而造成了巨大的财务损失。

Experts in crypto investment advise that these promotional tactics are dangerous, especially in communities where most Pi miners have limited technical knowledge. They're led to believe that Pi's value will skyrocket, so they invest blindly.

加密投资专家建议，这些促销策略是危险的，尤其是在大多数PI矿工具有有限技术知识的社区中。他们认为Pi的价值会飞涨，因此他们盲目投资。

Currently, Vietnam lacks a legal framework to regulate cryptocurrency transactions. The State Bank of Vietnam has repeatedly warned against owning, buying, or using cryptocurrencies like Bitcoin, stating clearly that such activities are not protected by law.

目前，越南缺乏规范加密货币交易的法律框架。越南国家银行一再警告不要拥有，购买或使用像比特币这样的加密货币，并清楚地指出，这种活动不受法律的保护。