Mobile encryption “mining” applications may be related to personal data leakage

Vietnamese news media reported on Monday that Pi Network, a cryptocurrency mining application targeting mobile users, may have been linked to the leak of 17GB worth of personal data.

According to a person posted on the hacker gathering RaidForums on Thursday, the treasure trove of personal data apparently comes from the “know your customer” checks made by Pi Network users.

It is expected to sell the ID cards of about 10,000 Vietnamese citizens, as well as connected home addresses, telephone numbers and email addresses. The seller has marked a price of $9,000 on the data and can use any bitcoin (Bitcoin) Or Litecoin (LTC).

Phien Vo, the host of the group chat channel on the Pi network in Vietnam, tell VnExpress stated that Pi Network’s KYC check was performed by a third party, adding that the Vietnamese ID in question was not compatible with the application. However, Vo does indicate that the earlier version of the application is compatible with the card at some point.

“To perform KYC verification on Pi Network, Vietnamese need to use their passports. Only some users of the early version of Pi can perform KYC verification with their driver’s license, but so far, the system has not yet accepted Vietnamese ID cards.

Since then, the cyber security department of the Ministry of Public Security of Vietnam has begun to investigate the matter.

An independent survey was recently conducted on the perceived value of Pi Network Implement Written by Cem Dilmegani, a technology entrepreneur and founder of AIMultiple. The review is a conclusion drawn a few weeks before the recent data leak, that Pi Network has the characteristics of a multi-layer marketing plan or affiliate marketing plan.

According to reports, the Pi app requires users to log in and click a button every day to receive their PI coins. Blockchain consensus algorithms such as proof of work or proof of rights are not used in the application, and users can increase the mining rate by recommending others. PI tokens are not yet traded on exchanges and have no dollar value.

According to reports, the app has been selling advertising revenue data from the beginning of its use. Considering that advertising space can be sold at a higher price when it contains personal user information, many people speculate that the Pi application is designed to steal personally identifying information from users only. Cointelegraph sought comment from a Pi Network spokesperson. If they reply, this article will be updated.