Pi Network is generating buzz as it transitions from its Enclosed Mainnet phase to an Open Network on February 20, 2025.

The long-awaited Open Network launch signifies a major milestone, but also raises important discussions about the platform's operations.

With over 19 million verified Pioneers and surpassing its Mainnet migration goal, Pi Network is gearing up for users to engage with other compliant networks and systems.

Despite the excitement surrounding the impending launch, experts are expressing concerns about the platform's legitimacy and potential legal risks. Renowned blockchain journalist Colin Wu cautioned individuals about the risks associated with Pi Network, especially in regions with strict regulations against pyramid schemes.

Wu highlighted the potential legal consequences, emphasizing the importance of avoiding involvement to prevent personal and familial repercussions. Other industry figures, including AB Kuai.Dong, described Pi Network as the "largest pyramid scheme in the Chinese-speaking world," citing its low entry barrier and referral system.

While some industry experts acknowledged Pi Network's pyramid-like marketing structure, they stopped short of labeling it a scam. Crypto V, a crypto market commentator, characterized Pi as a local marketing scheme but not a scam.

As Pi Network prepares for its Open Network launch, potential users and investors are advised to proceed with caution. While the platform's growth and unique approach have piqued interest, questions about its legitimacy and operational model persist.

As discussions around Pi Network intensify within the crypto community, the platform's trajectory and impact on the industry remain subject to scrutiny.