Pi Network users are increasingly selling their entire accounts online. The trend comes in response to extended lockup periods that prevent access to Pi coins for years.

Many users face waiting until 2028 to trade their cryptocurrency.

The Pi Network launched as a mobile app-based cryptocurrency promising accessible mining without specialized hardware. Its lockup mechanism was designed to stabilize supply and reduce inflation.

This strategy has backfired for many users.

Data shows Pi Network has 11.5 million total accounts. About 1.1 million users locked their Pi for six months, while 1.6 million chose one-year lockups. The vast majority—7.2 million accounts or 62.6%—selected three-year locks.

These three-year commitments mean most coins won't become tradable until late 2027 or early 2028.

"Normies have been mining that PI stuff every day for about three years. I was sure it was a scam, but hey, it looks like might get something out of it after all," wrote one user on X, formerly Twitter. "The funny thing is, most of the normies locked it up for 3–5 years and now wish they could sell their PI."

This growing impatience has pushed users to sidestep lockups by selling their accounts with passphrases included. A search for "sell locked Pi" on X reveals numerous offers.

"A friend has 2,136 Pi for sale. The Pi is locked until 2027. If you buy, you will receive the passphrase, which grants full access to the wallet," one post stated.

One user expressed deep concern about the situation. He noted many individuals with locked Pi face financial hardships while unable to sell their coins.

The practice creates significant security risks. Sharing passphrases means at least two people know the critical access keys to an account. This increases theft or fraud likelihood.

Buyers face their own risks in this unregulated marketplace. Sellers might offer fake accounts or invalid passphrases. The practice likely violates Pi Network's terms of service, risking permanent bans or coin forfeiture without recourse.

Beyond lockup issues, users report problems migrating tokens to the mainnet. Many face unresolved technical issues preventing balance transfers. This has prompted calls to extend the March 14 migration deadline.

These challenges come amid broader struggles for Pi Coin. The cryptocurrency has lost 22.2% of its value over the past week. Investors are withdrawing funds as bearish sentiment dominates the market.

At publication time, Pi Coin traded at $1.3, down 0.7% in the past 24 hours.