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crypto.news 2025-06-09 04:15:40

Pi Network faces backlash as users report missing tokens despite KYC completion and mainnet migration

Pi Network faces backlash as users report missing tokens despite KYC completion and mainnet migration

As more users report missing token balances after completing Know Your Customer verification processes and mainnet migration, Pi Network has come under fire from its community. The backlash erupted after Pi Network ( PI ) issued new wallet security guidelines, urging users to protect their seed phrases. Rather than easing concerns, the update sparked renewed outrage. Many users, who claim they followed every instruction from the Pi Core Team, say their wallets still show zero balance. Several posts on X highlight blank wallets, prompting allegations of technical failure and even accusations of a scam. One particularly vocal user, Haifeng Chen, summed up the mood in a heated reply to a post by Pi Network, stating; “Give me back that damn Pi. I’ve worked hard for six years. You still haven’t mapped it. What’s the delay?” His frustration was echoed by others who reported repeated delays and a lack of transparency from the team. For some, the issue is made worse by the appearance of multiple wallet addresses under a single account, adding to the confusion and raising doubts about the reliability of the migration system. Pi Network recently released security guidelines for Pi Wallet, sparking dissatisfaction among Pi Coin holders who are unable to see their tokens in their accounts. Despite adhering to all previous transfer instructions provided by the core team, users express their inability to… — clark.ron | $CAG @ 🇵🇭 (@clarkron_2008) June 9, 2025 You might also like: Will the Pi Network coin price rise or fall in June? Although the Pi Core Team has emphasized ongoing efforts to resolve these issues, their latest communications have done little to reassure the community. Users continue to demand clear explanations, faster resolution timelines, and immediate access to the tokens they believe they’ve rightfully earned. The continuous lack of visibility regarding the migration status has seriously eroded trust, and many users are now anticipating a rumored Phase 2 update that may finally address the KYC delays and wallet balance discrepancies. However, the absence of a precise timeline has left the community in a state of uncertainty. Pi is down 1.5% over the last day, trading at $0.6286 as of press time. From a technical perspective, the outlook remains fragile . On the daily chart, Pi is consolidating below major moving averages, with the 20-day simple moving average acting as resistance at $0.70. Pi Network price analysis. Credit: crypto.news The relative strength index at 40, indicating a lack of significant momentum. The overall setup shows indecision, even though indicators such as the stochastic RSI point to the possibility of a bounce. The risk of a further decline toward the $0.55 support zone remains if Pi is unable to break above the $0.70 level and maintain buying support. The community’s patience may continue to wear thin until the core team addresses the migration issues head-on and restores confidence, Read more: Avoid Pi Network and buy these deflationary altcoins instead

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