Pi Network Faces Setback as MEXC Halts Withdrawals but Are OKX and Bitget Still Safe

Investor concern deepens as MEXC halts Pi Network withdrawals — Is this a red flag or a growing pain of a young project?

Just two months after Pi Network launched its highly anticipated open mainnet, fresh turbulence has emerged. MEXC, one of the prominent exchanges listing the Pi token, has reportedly suspended withdrawals, raising eyebrows across the Pi Network community and igniting a wave of speculation about the platform’s liquidity and reliability.

MEXC Halts Pi Withdrawals: What We Know So Far

Multiple users across social media and crypto forums began reporting issues with Pi token withdrawals on MEXC earlier this week. These concerns come amid broader questions about the exchange’s transparency and its approach to handling Pi’s open mainnet transition.

The platform has yet to release an official statement, leaving users in the dark. The ambiguity has only intensified community worries, particularly given the absence of withdrawal issues on rival exchanges like OKX and Bitget.

“This isn’t just about Pi — it’s about trust in exchanges during early mainnet stages,” noted one user in the official Pi Network Telegram group.

OKX and Bitget Still Operational

For now, OKX and Bitget appear unaffected, with users reporting smooth withdrawal and deposit experiences. These platforms have proven to be more cautious with Pi listings, generally labeling them as “IOUs” or “wrapped tokens” until full mainnet verification is established.

The contrast in exchange behavior has spotlighted the need for clearer communication between Pi Network and its exchange partners. It also underscores the lingering uncertainty around Pi’s KYC rollout and token migration phases, which are still ongoing for a large portion of its community.

Pi Technical Analysis: Triangle Breakdown Raises Questions

As of April 21, 2025, Pi is trading at approximately $0.63, reflecting a steady decline from earlier highs near $0.85.

Analysts had been optimistic about a breakout from a symmetrical triangle, but the price instead failed to breach the upper trendline, falling back into consolidation. Should Pi reclaim $0.85, momentum toward $0.89–$0.91 is still possible. However, a fall below $0.80 would signal deeper bearish pressure.

Recent Pi Token Price Performance

Source: CoinMarketCap

Community Reactions and Ecosystem Resilience

Despite the withdrawal issue, the Pi Network community remains hopeful. The project has been aggressively building its ecosystem with key initiatives, including:

• A fully operational Telegram Wallet integration.

• Development of native dApps through the Pi SDK.

• Expansion of its KYC verification infrastructure.

Still, the incident with MEXC underscores one painful truth: the road from testnet hype to mainnet adoption is fraught with challenges, especially when centralized exchanges play gatekeeper roles to liquidity.

Conclusion

The suspension of Pi Network withdrawals on MEXC is a critical reminder of the fragility that still exists for projects in their early post-mainnet stages. While OKX and Bitget continue to process transactions, the incident highlights a trust gap between token issuers, centralized exchanges, and users.

As Pi Network moves forward, stronger transparency, full token migration, and improved coordination with exchanges will be essential to restoring confidence — and perhaps finally pushing Pi past the elusive $1 mark.

FAQs

What happened with Pi Network withdrawals on MEXC?

Users reported that MEXC halted Pi token withdrawals without an official announcement, causing uncertainty among holders.

Are Pi withdrawals working on other exchanges?

Yes, OKX and Bitget continue to support Pi deposits and withdrawals without reported issues.

What is the current price of Pi Network?

As of April 21, 2025, the Pi token is trading around $0.63.

Can Pi reach $1 soon?

Only if the project overcomes current migration issues, scales its ecosystem, and regains investor confidence.

Glossary

Mainnet: The official blockchain network where real transactions occur, as opposed to a testnet.

Symmetrical Triangle: A chart pattern used in technical analysis indicating consolidation before a breakout.

KYC: Know Your Customer — a process to verify users’ identities, critical for token migration in Pi Network.

Liquidity: The ability to buy or sell assets without significantly affecting the price.

Sources:

https://coinpedia.org/news/pi-network-withdrawals-suspended-on-mexc-but-what-about-okx

https://www.reddit.com/r/PiNetwork

https://www.okx.com

https://www.bitget.com

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in cryptocurrencies.

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