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#PiCoreTeam

This week, the Pi Network project saw significant developments and challenges, especially with the upcoming transition to the mainnet on June 28, 2025. Here’s a summary of the latest news based on the available information:

1 Technical issues in the transition to the mainnet:

◦ Many users reported significant issues related to the Know Your Customer (KYC) process and two-factor authentication (2FA). These issues include failed verification processes and the disappearance of some users' balances despite their compliance with the required procedures.

◦ These challenges have sparked widespread criticism from the community, with calls for greater transparency from the Pi Core Team and a clear plan to address these crises.

2 Decline in currency value:

◦ The Pi Network currency has experienced a sharp decline in value, as its price approaches historical lows due to increasing selling pressure.