Critical Warning Concerning All Pi Network (PI) Users

TL;DR

• Pi Network extended its KYC deadline to March 14, warning that users who miss it may lose some of their mined tokens.

• The team introduced updates allowing minor name and phone number corrections to improve the KYC process, though restrictions on repeated appeals remain.

The Important Guidance

Despite launching its Open Network, which made the PI token publicly accessible, Pi Network remains quite controversial. For instance, it keeps prolonging the deadline for users to complete necessary Know-Your-Customer (KYC) verifications and migrate to the mainnet. 

The process, known as “the Grace Period,” was initially meant to run until the end of February before being moved to March 14. As usual, the extension sparked mixed reactions across the community, with some members appreciating the additional time while others were frustrated and described the project as a scam. 

Most recently, Pi Network’s team advised users to pass the procedures before that date “to avoid forfeiting most of your Pi other than Pi mined within the rolling window of the last 6 months before your Pi is migrated.”

The developers further warned that this is the last chance for any Pioneer to complete the required steps to avoid losing their past mobile balances. 

Recently, the team assured that this would be the last deadline extension. However, some community members find this hard to believe, given Pi Network’s habit of prolonging such development for years. 

Additional Advice

Besides giving more time to users, the team behind the project also issued some key updates to improve the KYC process.

Last month, it said people whose Pi account name and KYC name do not match would usually have their applications rejected due to their failure to prove their ownership. To fix the problem, users should resubmit their applications with corrected details or update their Pi account name with a penalty of forfeiting part of their Mobile Balance. 

“Eligible Pioneers include those whose KYC applications were rejected due to name mismatches. However, Pioneers are eligible only if they have appealed exactly one time due to this rejection reason, and that single appeal was denied,” the team stated at the time.

Additionally, Pi Network allowed people who have made minor typos when putting their phone numbers into their Pi account to edit up to two digits. 

“Allowing only up to two digits to change is to make sure the phone number change will not be exploited by policy violators such as account transfers and sales or hackers taking over someone’s account,” the disclosure reads.