Pi Network Users Frustrated As Unverified Tokens Are Revoked

Pi Network Users Upset as Tokens Earned from Referrals Are Revoked

Many Pi Network users are expressing frustration after thousands of their Pi tokens were revoked due to unverified referrals. Users who spent years accumulating tokens through the referral program have seen their balances significantly reduced.

A Vietnamese user, Ngoc Ngan from Quang Tri Province, shared her disappointment after over 10,000 Pi tokens were taken from her account. Despite her efforts to remind her referrals to complete the Know Your Customer (KYC) verification process, many failed to do so before the March 14 deadline—a change from the initial end-of-2024 deadline.

“For four years, I worked tirelessly to promote Pi Network, using social media, friends’ and family members’ devices, and personal outreach. Now, after so much sacrifice, I have nothing to show for it,” Ngan lamented.

Thousands of Pi Tokens at Risk

Similarly, Hoang Viet from Quang Ngai Province voiced concerns over his 6,000 Pi tokens, fearing they could soon be reclaimed due to unverified referrals. Meanwhile, Hoang Anh, an admin of a Pi Network Facebook group with over 150,000 members, reported a surge in complaints from users who lost even more—some over 30,000 tokens.

As frustrations mount, some disillusioned users have accused Pi Core Team (PCT) of scamming its community, leading to calls for a boycott of the project.

Experts Explain Pi Token Revocations

Despite the backlash, cryptocurrency analysts believe the token revocation process is a standard security measure in airdrop-based blockchain projects like Pi.

According to Duc Cuong, a cryptocurrency expert, this move eliminates fake accounts and fraudulent activities designed to exploit referral rewards.

A blockchain expert from Ho Chi Minh City added that only tokens transferred to mainnet wallets are truly decentralized and non-revocable. Unverified tokens remain under PCT’s control, meaning the company can redistribute or revoke them at will.

Pi Network’s Future & Price Drop

The token revocation occurred as Pi Network celebrated its sixth anniversary on March 14. However, the project remains controversial, having taken nearly six years to transition to mainnet.

Following the February 20 integration into cryptocurrency exchanges, Pi’s price declined from $1.73 to $1.40. Despite the setbacks, Vietnam remains one of the largest Pi-mining countries, with thousands of users still engaging with the platform.

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