JUST IN: PI NETWORK NEWS ROUNDUP FROM VIETNAMESE MEDIA
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.
📰JUST IN: PI NETWORK NEWS ROUNDUP FROM VIETNAMESE MEDIA
— Pi Network - Open Mainnet (@Pi81Mall) March 15, 2025
📉 VnExpress: “Many players lament as their Pi is revoked” – Thousands of Pi earned from referrals were revoked due to unverified KYC, causing disappointment. Pi’s price dropped from $1.73 to $1.40 after a small… pic.twitter.com/MbXKFvovyj
