Pi Network users are expressing growing frustration over the platform’s Know Your Customer (KYC) verification process. With the final deadline for verification and Mainnet migration set for March 14, 2025, many Pioneers fear they could lose a significant portion of their Pi balance.
Widespread KYC Challenges Frustrate Pioneers
In late February, Pi Network announced that users failing to complete KYC and migrate their balances to Mainnet by the deadline risk forfeiting most of their mobile balances. The team emphasized that this grace period was necessary to ensure the network progresses without large sums of unverified assets.
However, this announcement has sparked widespread outrage, with numerous users reporting persistent KYC verification failures. Crypto enthusiast Rod Thompson labeled the situation the “biggest con job of crypto,” claiming he could lose over 10,000 PI Coins due to unverified team members, including one who had passed away.
THIS is the biggest con job of Crypto so far.
— Rod Thompson – Unofficially THAT Guy (@UnofficiallyRod) March 11, 2025
The @PiCoreTeam has been earning add revenue for every one of my daily mining sessions, but I’m going to lose over 10,000 pi coins in three days because people I haven’t spoken to in two years haven’t done KYC???
At least one of… pic.twitter.com/7lDzgb59Qu
Other Pioneers share similar grievances. User Ahmady Ala reported being unable to complete KYC despite six years of mining, while another, H. Ibrahim, lamented that his KYC verification has been pending for over 2.5 years without an option to reapply.
I have been mining Pi for 6 years but they still don't allow me to do KYC, I submitted a complaint to Pi network support portal and filled the KYC request form but still no response. The Pi Core team should focus on fixing this problem , many users have that issue. Help us😭 pic.twitter.com/Mzv3P8NiSE
— DR ALA✨ (@AhmadyAla22) March 8, 2025
Unfair Reward Distribution and Migration Delays
Beyond KYC challenges, Pi Network users report inconsistencies in balance distribution. Many claim their unverified balances continue to increase while their transferable balances remain stagnant or shrink. This lack of transparency has led some to question the legitimacy of the network.
One user, Mango Fan Token, criticized the system, stating, “I mined for four years, referred 39 people, and completed KYC for 17 of them—yet I got nothing. Others who barely mined have more Pi than me.”
Concerns Over Centralization and Long-Term Viability
Despite Pi Network’s claim of 60 million users, on-chain data suggests only around 11 million active participants. Some critics argue that the project’s control mechanisms hinder true decentralization. Meanwhile, prolonged migration delays have led some users to sell their Pi accounts on unofficial markets, raising concerns about the network’s long-term viability.
Also Read: Pi Network Surges 23% Ahead of Pi Day – Is a Binance Listing on the Horizon?
While dissatisfaction grows, Pi Coin has surged nearly 15% in anticipation of Pi Day. However, whether this momentum can sustain in light of ongoing issues remains uncertain. As the March 14 deadline nears, the Pi Network community awaits clarity on these unresolved concerns.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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