Pi Network is a Complete Fucking Scam

There is no proof Pi Coin is running an actual blockchain at all. There's no open source code for the blockchain. The most recent repo they ever linked appeared to be some generic fork of Stellar Lumens that hasn't had a commit pushed to it in >6 years.

Pi Coin is the definition of a soft pyramid. It ain't a full blown ponzi, but it's a soft pyramid. They suckered people into signing up years ago, with the promise that if they simply logged in by opening the app up on a daily basis and performing some activities then they would be effectively "mining" tokens.

Now the project has finally "deployed" and thousands were left without their supposed mined funds that were to be granted after "migrating to the mainnet". Most of those that did manage to gain confirmation they could gain access to their funds, found out at the last minute that they would not actually become transferable on-chain for 2-3 years or more.

Some folks couldn't gain access because of the Pi Network has no consensus. There is no blockchain. There's nobody even transacting on said network apart from the team & whatever exchanges they parked that garbage on for the sake of generating enough liquidity for them to calmly exit.

Some folks couldn't verify their KYC at all (which was in part contingent on some cohort / group of lab partners that needed to KYC alongside your KYC to validate your stake ; as if this makes any fucking sense at all). KYC also should've been taken before accepting money not dishing it out - wtf? Lol.

No clue how Pi Network isn't at $0 yet. That shit is a matter of time though.