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JUST IN: PI NETWORK NEWS ROUNDUP FROM VIETNAMESE MEDIA

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Vietnamese media outlets are reporting widespread frustration among Pi Network users after thousands of Pi coins were revoked due to incomplete Know Your Customer (KYC) verifications. The move has sparked concerns about transparency and trust in the cryptocurrency project, with many users expressing disappointment and anger over the sudden loss of their digital assets.

According to VnExpress, a significant number of Pi Network participants have seen their earned coins disappear, particularly those accumulated through referrals. The revocation process has led to a sharp decline in user sentiment, as many had anticipated holding their Pi coins for future use. The publication reports that Pi’s price dropped from $1.73 to $1.40 following an announcement on March 15, triggering speculation about the project’s stability.

A separate report by Vietnamnet highlights that some users lost their entire Pi balance, while others experienced reductions of 20 to 50 percent. The price of Pi fell by approximately 8 percent, settling around $1.58 as concerns over KYC compliance continued to mount. Investors and enthusiasts who had been actively mining and trading Pi expressed dismay over the unexpected losses.

Meanwhile, Thuonggiaonline notes that a recent update introduced by the Pi Core Team coincided with a more than 12 percent decline in Pi’s price. Despite efforts to advance the ecosystem, the downturn has fueled doubts about the project's long-term viability. The Pi Core Team has urged users to focus on ecosystem development rather than market fluctuations, emphasizing that KYC is an essential step in ensuring security and legitimacy within the network.

The controversy reached a peak when ZNews reported that tens of millions of Pi coins were lost due to unverified KYC submissions. The report claims that the incident occurred on the anniversary of Pi Network’s launch, further aggravating users who had been loyal to the project. Some members of the community accused the network’s management of betraying their trust, as they were unaware that failure to complete KYC would result in the total loss of their holdings.

The Pi Network project has long been positioned as an accessible and decentralized digital currency, attracting millions of users worldwide. However, this latest development has raised pressing questions about the sustainability of its model, especially as more individuals seek clarity on the future of their assets. The price volatility and user backlash suggest that the project must address these concerns swiftly to maintain confidence among its global user base.

While the Pi Core Team continues to advocate for compliance with KYC regulations as a necessary safeguard, the incident has left many Vietnamese users questioning whether the cryptocurrency will fulfill its promised vision or if recent events signal deeper challenges ahead.


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