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Pi Network Mainnet Issues Spark User Exodus—Accounts Up for Sale
The Pi Network has been plagued by mainnet issues, leading to a massive exodus of users and the sale of accounts. The prolonged lockup periods, coupled with technical migration problems, have left many frustrated and seeking alternative ways to liquidate their holdings.
According to recent data, approximately 63% of Pi Network’s 11.5 million users have locked their coins for three years, restricting access until 2027. This move has prompted many users to seek alternative means to monetize their investments, resulting in a surge in account sales and the sharing of passphrases to transfer ownership.
The technical migration issues reported by users on Reddit highlight the difficulties faced during the mainnet transition. Some users have even lost access to their migrated coins due to wallet address discrepancies, further exacerbating the situation.
The combination of these factors has led to a sharp decline in PI’s market value over the past week, with a drop of 20.6%. This decline reflects the waning investor confidence as a result of the ongoing challenges faced by the Pi Network.
As the migration deadline approaches, users are expressing concerns about the project’s future and their investments. In contrast, major cryptocurrencies such as Bitcoin (BTC) have experienced significant growth.
