Forfeited and Penalty in Pi Network: What Does It Mean?
In the context of âforfeited and penaltyâ within the Pi Network, this refers to the confiscation and penalization of users who violate the networkâs terms of use.
What Can Lead to Losing Your Pi and Receiving a Penalty?
1ď¸âŁ Transferring Pi to an Unauthorized Exchange
Pi Network has not yet officially launched on the open mainnet. Therefore, exchanging or selling Pi on platforms like MEXC, Huobi, OKX, etc., goes against its policies.
If the Pi Core Team detects that a user has sent Pi to an unauthorized exchange, they may freeze or confiscate those Pi.
2ď¸âŁ Illegally Purchasing Pi from Another Pioneer
Buying Pi with cash or other cryptocurrencies from another user without following the official procedures of the Pi Network can result in your account being suspended or the confiscation of the Pi you purchased.
3ď¸âŁ Buying Pi from an Exchange and Depositing It into Your Pi Wallet
If you purchase Pi from an illegal exchange and then transfer it to your Pi Wallet, it may be seen as participating in the unauthorized trading of Pi.
The Core Team can track and remove those Pi from your account.
What Is the Main Violation That Has Led to Pi Confiscation?
So far, the primary reason users have lost their Pi is participating in the buying and selling of Pi on unauthorized exchanges. Since Pi is not yet on the open mainnet, the Core Team aims to ensure that its value is established in a safe and controlled manner.
How to Avoid Losing Your Pi?
â Wait for the open mainnet to launch before attempting to sell or buy Pi. â Do not transfer Pi to exchanges without the Core Teamâs approval. â Do not buy Pi with cash or cryptocurrency from others outside the official Pi Network ecosystem.
If a user engages in any of these activities, they risk losing their Pi or facing penalties such as account suspension.
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Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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