Pi Coin Withdrawals Suspended Amid Price Plunge Below $1

Pi Coin Faces Withdrawal Suspension on Exchanges As Price Dips Below $1

The long-awaited official launch of Pi Network has seen its Pi tokens listed on various exchanges, but users are now facing issues with withdrawing their tokens. The price of Pi has been fluctuating significantly, and at the time of this report, it has fallen below $1. This volatility has led to an aggressive selling trend among holders.

The cause of the fluctuations and suspension of withdrawals is still unclear, but regulatory concerns might be playing a role in the uncertain market conditions. One user, based in the UK, has questioned whether regulations could be a factor in these sudden changes, asking why such withdrawal issues are happening now.

In addition to price concerns, a number of Pi Network users have reported difficulties with exchanges such as Bitget and OKX. One user mentioned they deposited 1,500 Pi into Bitget, only to find the tokens stuck on the platform. Others have raised similar concerns on social media, prompting inquiries to Pi Core Team for an explanation.

For those using OKX, the platform has suspended Pi withdrawals for over 24 hours, as reported by another user. Frustrated by the suspension, a user contacted OKX support and was advised to provide their unique ID and email address to initiate the return process. While the user requested a deposit refund and received an email in response, there is still no confirmation of when the withdrawals will be restored.

Bitget responded to the mail and wrote, “Greetings from Bitget. We would like to inform you that your request is currently in the process of being handled and it has been escalated to the relevant team to expedite the process. Please be assured that your request is our top priority at the moment. We kindly request your understanding and patience. Once again, we sincerely apologize for any inconvenience caused. You may expect your request to be completed within the next 24-48 hours.”

Pi Network users are advised to stay updated on announcements from exchanges and the Pi Core Team, as the situation is still developing. Amid the uncertainty, Pi Network team issued a statement and wrote, “Beware of fake Pi listings on various DEXs. It is important to note that Pi trading pairs currently listed on all DEXs are fraudulent and are likely to be part of a scam