Pi Network News: Why Pi Coin Balances Suddenly Showed Zero on Major Exchanges

Published by

Rizwan Ansari

May 4, 2026

A 3D gold and purple Pi Network (PI) coin resting on a dark reflective surface with a green and white candlestick trading chart in the background.

Pi Network balances on platforms like OKX, Bitget, Gate.io, MEXC, and Kraken appeared as “0 Pi.”

Some of these wallets previously held large amounts, including over 250 million Pi on Gate.io and 43 million on MEXC. Even wallets linked to the Pi Foundation seemed empty on certain explorers.

What Actually Happened?

It all started with screenshots. Pi community members began to notice that on-chain data showed Pi Network’s (PI) token balances on several major centralized exchanges had been set to zero.

Even PiScan and other Pi Network trackers temporarily showed zeroed-out balances that had nothing to do with actual coin movement.

Here’s what the numbers looked like across platforms;

OKX — 0 Pi
Bitget — 0 Pi
Gate.io — 0 Pi (this one previously held over 250 million Pi)
MEXC — 0 Pi (had been holding over 43 million Pi)
Kraken — 0 Pi (previously around 5 million Pi)
Pi Foundation’s own wallets — no Pi visible

Despite this zero showing up on a blockchain explorer, there has been no official statement from the Pi Core Team confirming that funds have disappeared or been removed.

Possible Reasons for a Zero Pi Coin Balance on Exchanges

Pi community experts offer a few likely explanations that are being discussed on the X platform.

Explorer glitch: Some blockchain explorers, including PiScan & Pi Network trackers, may be showing incorrect or delayed data.
Wallet restructuring: Exchanges could be moving funds into new or hidden storage addresses. When Pi is shifted from one wallet to another, the original wallet can show zero balance.
Network upgrade activity: Ongoing upgrades like Protocol 23 may be affecting how balances are displayed.

These are all possibilities, but none are confirmed yet.

Protocol 23 Could Be a Key Factor

Another possible reason for the major development underway is the rollout of Protocol 23. This upgrade, which is expected to bring smart contract features and expand the Pi ecosystem.

Together, these upgrades show a major infrastructure shift for the entire network. Overall, it is predicted that it could be nothing more than a technical display issue that corrects itself in a few days.

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