Pi Network’s Biggest Red Flag — 95% of Users Still Not Migrated in 2025

Despite claiming over 50 million users, the Pi Network has only allowed an estimated 3–5% of its user base to migrate to the open mainnet — even in mid to late 2025.

⚠️ Here's what the data really shows:

🔐 Only ~1.5 to 2.5 million users have migrated

💤 95%+ of mined balances remain locked and non-transferable

💸 Most users can't buy, sell, or even move their Pi

🚨 What’s Going On?

❌ 1. Centralized Control of Migration

All migration decisions are manually filtered by the Pi Core Team — there is no decentralized KYC or open process. Users can be rejected even after completing KYC.

⚙️ 2. Secret Activity Filters

Users are blocked from migration for vague reasons like "low app activity" — even after years of mining. No transparency. No appeals.

🧪 3. Artificial Scarcity = Price Manipulation

With only a tiny fraction of the token supply circulating, Pi’s off-chain value can be easily inflated or manipulated — creating the illusion of demand and value.

🧱 4. Not Truly Web3

There is no public blockchain, no contract transparency, and no user control. The core team holds all the keys — making Pi more of a closed ecosystem than a real crypto project.

📉 Final Thought:

If the majority of users can't move, sell, or use their tokens... is it even a cryptocurrency?

Until Pi opens real migration and embraces decentralization, it risks being remembered not as the next Bitcoin — but as the biggest illusion in crypto history.