Pi Network's KYC system has been criticized as users complain about delays and difficulties.

The Know Your Customer verification process (KYC) of Pi Network has been closely monitored (once again) as many users report persistent difficulties, delays, and in some cases, the complete loss of their Pi tokens. This is not the first time this has happened, as many X users have reported issues in recent days. These issues have raised concerns about the transparency and reliability of users on the platform, with similar issues occurring a few years ago. For example, in a Reddit discussion from 2023, people complained that their submissions took years to complete. What happened to the Mainnet migration process of Pi Network? Pi Network released the Mainnet migration roadmap on April 18, but there have been reports of a lack of specific timelines, a bug reporting mechanism, and an auditing system for discrepancies in rewards. This only adds fuel to the growing skepticism. The situation worsened when Pi Network set a hard deadline in mid-March, requiring users to complete KYC verification and move their Pi balances. Those who miss the deadline will lose a significant portion of their tokens, retaining only the coins mined in the six months prior to the move. Therefore, many users have expressed their disappointment with the KYC process, citing reasons such as prolonged verification times, application errors, and a lack of clear communication from the Pi Network team. Some users report that their applications have been under review for a long time without updates, while others encounter technical glitches during the transition. How do KYC issues and movement affect the price of Pi? Of course, all of this combined has affected the value of the Pi cryptocurrency. After the deadline in March, the price of Pi decreased significantly, dropping over 55% from its all-time high. In the past seven days, the price has decreased by about 2.8%, while in the past 30 days, the decrease has been nearly 23%. Indeed, most cryptocurrencies faced difficulties in March due to the tariff policy of the Trump administration, but Pi has been steadily declining since the beginning of March. At the time of writing, the price of this cryptocurrency is around $0.6164, while at the end of February, the price was nearly $3. Pi Network’s promise of a decentralized, user-friendly cryptocurrency has attracted over 100 million downloads of the app, but ongoing KYC issues remain ever-present. This could potentially deter many users, although we still have to see exactly to what extent.