Vietnam's Department of Cybersecurity and High-Tech Crime Prevention is investigating the Pi Network and its cryptocurrency due to concerns about its complexity and lack of transparency. The network has gained popularity in Vietnam and India as it allows users to mine tokens on their mobile phones without expensive hardware costs.

However, authorities warn that cryptocurrency promoters may be using business models resembling multi-level marketing schemes to lure people into fraudulent activities. Despite having 47 million engaged members and a team of 35 core members, the Pi Network has not been approved for listing on any exchange.