At 3:00 PM on March 14, the final deadline for Pi Network miners to complete Know Your Customer (KYC) verification will expire.

Those who fail to verify their identities will lose all Pi they have mined, while users who invited others into the network may also lose bonus Pi if their invitees do not complete KYC.

Pi Network's final KYC push

Pi Network has confirmed that March 14 at 3:00 PM marks the absolute cutoff for users to complete KYC verification. Miners who fail to comply will see their entire Pi balance erased.

Even those who have successfully verified their identities remain uncertain about the fate of their Pi holdings. If their downline users - those who joined using their referral codes - fail to complete KYC, the bonus Pi they earned from those users will also disappear.

Pi Network categorizes balances into three different types:

Purple Pi: Pi that has been transferred to the mainnet and can be traded on exchanges.

Pink Pi: Pi that is awaiting mainnet transfer.

Gold Pi: Bonus Pi earned through referrals - these can be lost if referred users fail KYC.

KYC verification proves difficult

Reports from Pi Network communities indicate that passing KYC is not straightforward. Users must complete multiple verification steps, and not everyone is approved.

The system denies KYC verification to those who:

Attempted fraudulent activities

Traded Pi illegally

Used bots to mine Pi

Anyone who fails KYC by the 3:00 PM deadline will lose all Pi holdings.

Even those who successfully complete KYC remain anxious about their Pi balance. If other users in their referral network fail KYC, their bonus Pi will also be wiped out.

Mysterious increase in bonus Pi balances

Some users have reported unexpected increases in their Gold Pi balance - sometimes even exceeding their Pink Pi holdings.

Speculation has emerged that Pi Network might be manipulating supply to limit the number of Pi coins available for market trading.

However, longtime Pi miners suggest an alternative explanation. According to them, the apparent decrease in Pink Pi is due to Pi Network moving portions of users’ balances to the mainnet (turning them into Purple Pi), making them eligible for trading. Meanwhile, Gold Pi remains unchanged and its final amount depends on the number of downline users who complete KYC.

For users with large networks, if many downline users fail KYC, bonus Pi could become the dominant portion of their balance - only to be erased afterward.

Pi’s current market value remains stable

As of today, Pi is trading between $1.60 and $1.70 per coin. Over the past 24 hours, market fluctuations have been minimal.

Interestingly, despite the looming KYC deadline, Pi Network communities remain remarkably calm. Many users have expressed that losing their Pi holdings due to failed KYC would be unfortunate but not devastating.

Currently, Vietnam has no legal framework regulating cryptocurrency transactions. The State Bank of Vietnam has repeatedly warned that owning, trading, or using Bitcoin and other cryptocurrencies carries significant risks and is not legally protected.

PV