Although Pi Network’s mobile-based cryptocurrency mining program PiCoin Miner boasts over 60 million registered accounts as of March 2025, it has still not paid users. No working mainnet has materialized even though the business guaranteed withdrawals by February 20, 2025. While users still cannot sell their generated Pi coins, a third-party audit projects Pi Network made $12 million in 2024 from in-app advertising. 500 users complained about allegedly unethical behavior on March 15, 2025 Pi Network cites regulatory delays to deny any misconduct. The continuous debate begs questions about whether PiCoin Miner is an official effort or an ad-driven initiative.