The Pi Network’s core team has issued a reminder to its users regarding the upcoming deadline for completing the Know Your Customer (KYC) process and migrating to the Pi Mainnet.
The announcement, posted on January 5, 2025, emphasizes that these steps must be completed by January 31, 2025, to avoid losing access to the majority of users’ Pi coins they have mined.
The KYC process is designed to confirm the identity of users and ensure compliance with anti-fraud measures. For those who do not complete KYC, most of their Pi holdings will be rendered inaccessible, essentially forfeited, as part of the Core Team’s efforts to maintain the integrity of the network and eliminate accounts created through fraudulent or automated means.
Pi Core Team reminds its 100+ million users that the grace period for this transition will end on January 31, and after that, users who fail to comply with these requirements within the rolling six-month window risk forfeiting most of their Pi coins.
The reminder is important because, as of August, only 13 million users were Kyc verified. This means almost 50% of pioneers are pending to complete KYC, though these statistics would change once new information is made available as there has been increase in verified users from August to December. As of now, all these pioneers are on the verge of losing their hard-mined Pi coins.
To address the bottleneck in KYC verification, around 1.2 million Pioneers who were previously not able to move forward with their KYC application have been unblocked in just the past few months.
To help this user, the Pi team has also invited existing verified users to become validators. The team is encouraging users to act immediately to ensure their migration to the Mainnet, securing the full value of their Pi holdings.With less than a month remaining, Pioneers are encouraged to take immediate steps to secure their participation in the Mainnet and safeguard their Pi coins.
