NewsPi Coin Faces Withdrawal Suspension on Exchanges As Price Dips Below $1
Anjali Belgaumkar21 Feb 20253 min read
Pi Network’s long-awaited official launch has seen it listed on various exchanges, but users are now facing issues with withdrawing their Pi tokens. Pi’s price has been fluctuating significantly and at press time, it has fallen below $1. This volatility has led to an aggressive selling trend among holders.
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. 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.
Users Report Issues on Bitget and OKX
In addition to price concerns, a number of Pi Network users have reported difficulties with exchanges such as bitget bitget Bitget is a global cryptocurrency exchange and Web3 company operating across more than 150 countries and regions. The platform is known for its copy trading feature, which allows traders to follow and replicate strategies from experienced market participants. It also gives real-time access to prices of major cryptocurrencies such as Bitcoin and Ethereum. Bitget Wallet, earlier called BitKeep and acquired in 2023, is a decentralized multi-chain wallet supporting over 100 blockchains and nearly one million tokens. It includes asset management, swaps, staking, DApp access, and crypto on-ramps. The wallet is available on mobile, web, browser extensions, and Telegram, and is backed by a large protection fund. Key features: Copy trades from experienced traders by selecting them based on performance data, risk level, and trading history. Leverage options allow you to trade cryptocurrencies on spot markets and perpetual futures. Connect your Bitget Wallet to manage multi-chain assets and use Web3 services such as token swaps, NFTs, and decentralized apps. Use the built-in trading tools to evaluate market movements and manage risk. Store funds in cold wallets or multi-signature systems, and keep an eye out for any hazards. In supported regions, you can deposit and withdraw fiat currency via bank transfers and cards. Buy and sell cryptocurrency directly with others via P2P and OTC trading, both of which use local payment methods. [email protected] Centralised Exchange 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.”
Warning on Fake Pi Listings
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 which results in loss to you. Pi Network strongly recommends that you refrain from participating in any current DEX trading pairs.”
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