The news is very surprising, i have this coin on my smartphone i am still mining this today also some of my friends are still mining the pi coins,because they believe that this coin can make them rich in the future i also believe in it but because of this news maybe my friends and i will stop mining.
I believe you have seen how easy it is to mine Pi coin! Now ask yourself a simple question -
Why on earth someone would buy a coin which can be easily mined using smartphone and without wasting any energy or hardware computation power?
Once you get the answer, you will uninstall Pi coin from your phone.