Pi Network has restored its password recovery feature as of December 26, 2024, implementing a new verification process that combines mobile app access with SMS-based authentication. The restoration arrives as cryptocurrency platforms increasingly move toward more robust security measures, with many experts, including the FBI and CISA, recommending phishing-resistant authentication methods over traditional SMS-based systems.
The reinstated recovery system requires users to initiate the process through the Pi Network mobile application. Users who need to recover their passwords must first select the “Forgot Password” option on the login screen. The system then prompts users to enter their registered phone number, following which they receive an SMS verification code to confirm their identity.
The implementation follows standard two-factor authentication principles, requiring both access to the mobile application and possession of the registered phone number. The dual-verification approach matches current industry security practices, though some security experts, including Incognia, have urged financial services to move beyond SMS authentication due to potential vulnerabilities.
Pi Network’s password recovery restoration is part of the platform’s ongoing development in the mobile cryptocurrency space. The network, which operates as a decentralized cryptocurrency project, has distinguished itself through its mobile-first mining approach and community-oriented structure, similar to other innovative platforms like Humanode that have integrated mobile technology with blockchain applications.
The technical implementation combines SMS verification infrastructure with the platform’s existing mobile application framework, enabling automated verification code distribution and validation. The system maintains security while providing accessibility for legitimate users who need to regain access to their accounts. The approach reflects broader industry trends in cryptocurrency security, where platforms increasingly balance user accessibility with robust authentication measures to protect digital assets.
The development comes as the cryptocurrency industry continues to enhance its security practices, with many exchanges and platforms implementing more sophisticated identity verification methods. Leading cryptocurrency exchanges have already adopted multi-factor authentication systems, often combining biometric verification with traditional security measures to protect user accounts.
Sources: Crypto Times
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