When more users reported missing token balances after completing the customer verification process and mainnet migration, the PI network fired from the community.
After the PI Network (PI) issued new wallet security guidelines, a backlash broke out, urging users to protect their seed phrases. Rather than alleviating concerns, this update sparked new outrage. Many users who claim to have followed all the guidance from the PI core team say their wallets still show a balance of zero.
Some posts on X highlight blank wallets and even encourage allegations of technical failure and even accusations of fraud. In particular, vocal user Haifeng Chen summed up his mood in a heated reply to the post by the PI network. “Give me that pie back. I’ve been working hard for six years. You haven’t mapped it yet. What’s the delay?”
His frustration was reflected by others who reported repeated delays and lack of transparency from the team. For some, multiple wallet addresses appearing under a single account, causing confusion and exacerbating the problem by questioning the reliability of the migration system.
PI Network recently released security guidelines for PI wallets, causing frustration among PI coin holders who can’t see the tokens in their accounts. Despite adhering to all previous forwarding instructions provided by the core team, users are…
– Clark.ron | $ cag @🇵🇠(@clarkron_2008) June 9, 2025
The PI core team emphasizes ongoing efforts to resolve these issues, but their latest communications have done little to reassure the community. Users continue to request clear explanations, faster resolution timelines, and immediate access to tokens they think they have just acquired.
The continued lack of visibility into migration status has seriously eroded trust, with many users expecting a rumoured phase 2 update that could ultimately address KYC delays and wallet balance inconsistencies. However, the lack of an accurate timeline has left the community in a state of uncertainty.
PI has dropped by 1.5% on the last day and is trading at $0.6286 as of press time. From a technical standpoint, the outlook remains vulnerable. On the daily chart, PI integrates the main below-primary moving averages, with a simple moving average of 20 days functioning at $0.70 as a resistance.
PI Network Price Analysis. Credit: crypto.news
A relative strength index of 40 indicates a significant lack of momentum. The overall setup shows indecisiveness, despite metrics such as stochastic RSI referring to possible bounces. If the PI cannot maintain purchase support beyond the $0.70 level, the risk of further reduction to the $0.55 support zone remains.
Community perseverance can continue to wear thinly and thinly until core teams deal with immigration issues head on and restore confidence.
