The once-celebrated Pi Network — boasting over 70M+ users and a vision of mobile-first crypto mining — is now under fire! Recent events have sparked major concerns about delays, broken promises, and even accusations of fraud. Let’s dive into what’s really going on!
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🌟 A Dream That Captivated Millions
Started as a user-friendly crypto mining app, Pi Network let users “mine” coins with just a tap daily. It quickly built a massive global community — but the excitement is fading fast.
🔸 $100M Dev Fund was announced
🔸 But 94% of users still haven't earned even 1,000 Pi
🔸 Ambassadors claim referrals weren’t counted properly
Many early supporters now feel ignored and misled.
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⛔ Where Are the Promised Results?
Despite years of hype, the key developments are still missing in action:
⚠️ KYC issues blocking user access
⚠️ Mainnet delays — no real use for mined Pi
⚠️ Promised 100 DApps? Nowhere to be seen!
Transparency has been poor, and the silence from the core team has only made things worse.
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🧠 Experts Sound the Alarm
Industry veterans aren't holding back:
🔹 Justin Bons (CyberCapital): Called it a "scam", citing shady token distribution
🔹 Bybit CEO: Warned that Pi may have exploited elderly users
🔹 Chinese Police Warning: Raised concerns over personal data misuse
The red flags keep piling up…
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📉 Price Crash Reflects Reality
The token hit $2.99 in Feb 2025, but is now down to just $0.70 — a massive 76% drop.
With limited utility and low liquidity, Pi holders are feeling trapped.
💔 Investors are now asking: Was it all smoke and mirrors?
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📊 User Data Doesn’t Add Up
While Pi claims 70M+ users, on-chain stats reveal:
• Only 9.11M wallets
• Just 20K daily active users
This casts major doubt on the project’s real adoption.
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🚀 What’s Next for Pi?
To restore trust, the team must:
✅ Fix KYC delays
✅ Launch the mainnet with real DApps
✅ Be transparent about the $100M fund
✅ Respect & reward the early believers
Without urgent action, Pi risks losing its greatest asset — its community.
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Pro Tip: Always DYOR before investing in hyped projects. Hype fades
. Fundamentals last.
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