Over 50 million out of 65 million Pi Network users — who have been mining Pi for 4–6 years — are currently being deliberately delayed or stuck at the KYC step (step 9). This prevents them from receiving their mined Pi, effectively locking their assets. Even if Nicolas (Pi Network's founder) allows them to receive their Pi this year, they may not be able to sell it until 2028. If nothing is done, they might not receive any Pi at all until 2030.
The real goal? To push people into buying Pi from Nicolas' KYC wallet via Banxa, rather than letting users receive their own Pi for free.
It's becoming increasingly clear: this is a scam project. Pi Network is using paid influencers (KOLs) on X (Twitter), Facebook, etc. to spread fake optimism and mislead users into investing. Meanwhile, the developers are preparing to sell Pi tokens on the market, leaving retail investors with worthless tokens.
On top of that, the market cap of Pi Network is a complete scam. The devs reported to CoinMarketCap that 7 billion Pi tokens are in circulation, while in reality, only 1.8 billion are actually accessible. The remaining 5.2 billion are locked. By calculating market cap based on 7 billion, they create a misleading illusion of value — a blatant manipulation #piscam
