Pi Network faces growing concerns as nearly half of its active nodes are located in Vietnam. Piscan reports show that 154 of 319 nodes—48.2% of the total—operate in the country.
At press time, 33 of the 76 connected nodes were also based in Vietnam. This makes Vietnam the most dominant location for Pi Network’s infrastructure.
The 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.
Only Two Validator Nodes—Both Controlled by Pi Core Team
Pi Network currently has just two validator nodes. Piscan confirms both belong to the project’s core team.
Validator nodes play a key role in maintaining blockchain integrity. When both are controlled by the same group, the system lacks distribution.
This setup increases concerns over central governance. It also 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. This puts Pi Coin users 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. The proposal includes requiring licensed institutions to handle crypto custody.
The law is still under consideration. 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 shows the Pi Foundation controls over 60.7 billion of the 100 billion total Pi Coin supply. That’s more than 60% of all Pi Coin in circulation.
This concentration raises questions about decentralization and distribution. Many blockchain ecosystems aim to spread control across users.
A Reddit user commented,
“So long as the team holds some coins, it will never be decentralized.”
Insider Selling Allegations Surface Against Pi Network Team
BeInCrypto reported that a Pi user accused the core team of insider selling. The report didn’t confirm the allegation, but it added more scrutiny.
The issue brings attention to how the Pi Coinsupply is handled. Combined with validator control and node concentration, the allegation adds to the pressure on the network’s transparency.
As more Pi Network users rely on nodes in Vietnam, and as local laws tighten, operational risks grow.
