Pi Network News: Users Panic as KYC Deadline Nears – Will You Lose Your Coins?
The post Pi Network News: Users Panic as KYC Deadline Nears – Will You Lose Your Coins? appeared first on Coinpedia Fintech News
With Pi Day just a day away, panic is growing among Pi Network users, known as Pioneers. Many fear they could lose their Pi coins due to ongoing issues with the Know Your Customer (KYC) verification process. As the final deadline approaches on March 14, 2025, frustration is rising as many struggle to get verified in time.
Verify Now or Lose Your Pi Coins, Says Pi Network
Tap to Earn Pi Network has announced that users who fail to complete KYC and transfer their balance to the Mainnet by 8:00 AM UTC on March 14, 2025, will lose most of their mobile balance. The team says this step is necessary to remove unverified accounts and maintain a clean network.
However, many users say they have tried multiple times to complete KYC without success. Crypto enthusiast Rod Thompson called this one of the biggest issues in crypto, saying he could lose over 10,000 Pi coins because some of his referrals haven’t completed KYC.
Users Left Frustrated
Many Pioneers report their KYC applications have been pending for over two years, with no option to reapply. This has left them stuck, unable to access their coins, raising concerns about whether the system is fair.
Another major complaint is that Pi Network earns money from ads shown during daily mining. Some users find it unfair that while the platform profits, many are unable to verify their accounts and access their earnings.
Balance Issues and Unfair Rewards Add to Concerns
Aside from KYC problems, users have also noticed inconsistencies in their balances. Some report that their unverified balance continues to grow, but their transferable balance remains small. This has led to doubts about the platform’s transparency.
Another issue is reward distribution. Some long-term miners with referrals claim they have received fewer Pi coins than others who mine irregularly, leading to frustration in the community.
Even those who have completed KYC face challenges moving their Pi coins to the Mainnet. Long lock-up periods have forced some users to sell their accounts on unofficial platforms, raising concerns about the project’s credibility.
Pi Coin Price Outlook
Despite these issues, Pi Coin’s price has risen nearly 7% in the past 24 hours, as investors speculate on possible announcements for Pi Day. However, with the KYC deadline fast approaching and many users still unable to verify their accounts, uncertainty remains over the future of Pi Network.
As Pi Day approaches, users are left wondering – will their years of mining be rewarded, or will their fortune vanish into thin air?
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