Pi Network Scandal: Have 70 Million Users Been Misled All Along?

Jakarta, Pintu News – Pi Network’s Core Team received a lot of criticism from its own community after announcing Pi Network Ventures, a $100 million fund to build decentralized applications (DApps) on their platform.

Instead of being met with enthusiasm, many of the old Pioneers saw this move as a form of betrayal.

Pioneer Feels Betrayed by Dana Ventures

According to Pi analyst, Dr. Altcoin, over 94% of Pioneers have not even managed to earn 1,000 Pi due to unrecognized referral and ambassador bonuses.

Now, they are told that the apps they have been promised for years will be built using funds from their own time, effort, and trust.

Read also: Pi Network Drops to $0.86 — Has Pi Coin Just Lost Its Spot in the Crypto Elite?

This disappointment is profound. Since 2021, users have had to endure KYC verification delays, repeated rescheduling of the Open Network launch, and reasons that are considered unclear.

One of the key requirements for the mainnet launch was to have 100 active DApps-but most have yet to be realized. Now, Pioneers are questioning where the advertising revenue and proceeds from previous hackathons have gone.

Delays and Lack of Transparency Shake Trust

The latest announcement from the Core Team briefly pushed the value of Pi up. But after the details were announced, the token price plummeted sharply to $0.80-signaling market disappointment and crumbling confidence.

More than 70 million users in over 200 countries have helped grow Pi Network into a global phenomenon, not because of funding, but because of faith in the project. Now, many feel neglected.

Dr. Altcoin states, “Pioneers are not just users-we are the reason Pi can exist. The Core Team’s silence speaks louder than words.”

Amidst growing frustration, one thing has become clear: without transparency and real action, Pi risks losing its main foundation-its own community.

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Reference:

• Coinpedia. Did Pi Network Mislead its 70M Users? Pioneers Speak Out. Accessed on May 16, 2025