Pi Network KYC Deadline Has Passed: What Happened to PI Coins in Unverified Accounts?

Pi Network's Token Migration Deadline Has Passed After Many Warnings and Extensions

After multiple warnings and extensions, the final deadline for Pi Network's token migration has passed. Users who failed to complete KYC verification lost significant amounts, causing the asset's price to drop by approximately 11%.

Some Pioneers claimed they were unaware of the deadline, while others reported technical difficulties during the verification process. One user, in particular, reported losing 10,000 PI tokens.

Pi Network Migration Deadline Led to Short-Term Chaos

March 14, Pi Day, marks a major shift in Pi Network's blockchain project. Due to the hype, the token’s price briefly surged, and developers launched PiFest to celebrate this progress and encourage further adoption.

Most importantly, today was the final deadline for Pi Network users to complete KYC verification and migrate to the mainnet.

Pi developers issued a final reminder via social media, stating:
"Final Reminder: The migration period requires KYC and Mainnet migration to be completed by March 14, 2025, at 08:00 UTC; otherwise, you will lose most of your Pi, except for the Pi mined in the last six months before migration."

Essentially, this migration meant that users had to fulfill KYC requirements or automatically lose a large portion of their tokens. However, not all assets were affected; for example, earnings from the latest airdrop were generally safe.

The community feared that technical issues might wipe out their assets, and these fears began to materialize.

Many Pi users reacted to the migration deadline with confusion and frustration. Prominent fan accounts have been circulating screenshots of major losses, particularly those involving around 10,000 Pi tokens.

Additionally, some users reported glitches in the KYC system, which either erased their earnings or caused further confusion. Some social media supporters have already begun labeling Pi as a scam.

These migration issues appear to have negatively impacted PI’s price. The previous bullish momentum was already fading, but the massive token losses and community unrest accelerated the decline.

Due to the large number of lost tokens and their potential release into circulation, PI coin has dropped nearly 10% today.

Source: beincrypto