Binance, the world’s largest cryptocurrency exchange, is facing a wave of negative reviews on Google Play and the Apple App Store as Pi Network supporters protest the platform’s failure to list Pi Coin.
Mass One-Star Ratings Spark Controversy
- A Facebook post from a Pi Network group with over 135,000 members encouraged users to rate Binance one star for allegedly “disrespecting” the project.
- Similar calls spread across Facebook and X (formerly Twitter), prompting widespread participation.
- While many Pi supporters complied, some opposed the move.
Binance’s Poll and the Unmet Expectations
- Between Feb. 17 and Feb. 27, Binance conducted a user survey via its official Binance Square account to gauge interest in listing Pi.
- Over 85% of respondents supported the listing, but Binance clarified the poll was for “reference only” and did not guarantee any action.
- On Mar. 1, Binance revealed that most users favored listing Pi, but the exchange did not commit to listing it.
Community Frustration and the Review Bombing
- Hoang Anh, a Pi Network Facebook group admin, noted that some Pi supporters misunderstood the poll, believing it guaranteed a listing.
- Many users who had registered, completed identity verification, and deposited funds felt deceived.
- Feeling frustrated, they retaliated with one-star ratings on Binance’s app.
- The Thanh, a crypto investor, suggests some Pi holders may have used this opportunity to pressure Binance into listing the coin.
Binance Ratings Take a Hit
- On Google Play, Binance’s rating dropped from 4.9/5 to 3.8/5, with over 2.86 million reviews.
- On the App Store, it fell from 4.8/5 to 4.2/5, with 12,400 ratings.
- Common complaints in one-star reviews include:
- “Tricking users into depositing money to vote for Pi.”
- “Disrespecting the Pi Network project.”
- “Exploiting Pi supporters’ trust.”
Past Pi Network Controversies
This isn’t the first time a crypto exchange faced backlash from Pi supporters:
- ByBit previously suffered a similar review attack.
- Its Google Play rating plummeted from 4.7/5 to 2.8/5 after CEO Ben Zhou issued scam warnings about Pi Network.
Why Binance Might Be Hesitant to List Pi
- Blockchain expert Anh Bang highlights concerns over Pi Network’s lack of transparency:
- Despite launching its mainnet after six years, it has not released a smart contract or open-source code.
- Only two publicly known founders, Nicolas Kokkalis and Chengdiao Fan, are listed as Stanford Ph.D. holders.
- Critics argue Pi Network is not fully decentralized:
- All active mainnet nodes remain under the control of Pi’s core team.
- Unlike Bitcoin or Ethereum, its decentralization claims remain questionable.
- Blockchain expert Nguyen Viet Dinh notes that Pi Network still operates on an outdated Stellar Core version (19.1), despite newer versions supporting smart contracts.
Read More: Coforge Shares Surge 5.5%: How a $1.56B Sabre Deal Ignites Growth & Market Optimism
Could This Hurt Pi Network’s Future?
- Some Pi supporters worry this backlash could deter other exchanges from listing Pi.
- Hoang Anh warns, “Missing out on Binance could hurt Pi more than it benefits it. Other exchanges might hesitate to engage with Pi’s community due to fear of backlash.”
About Binance & Pi Network
- Binance: Founded in 2017, Binance became the largest crypto exchange within a year, now handling $22 billion in daily trading volume with 13.6 million weekly visitors.
- Pi Network: Launched in 2019, it promised users the ability to mine Pi for free by tapping a button in its mobile app daily. Vietnam remains one of the biggest Pi-mining communities.
