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Enable Photon.
Normally, like this (without Photon active)

There is a pink color for transparency (when Photon is active)

Tix: 851149-zen
Can confirm this is happening with me too. Tried it last night, and yes Photon shows a pink background for all my PNG images.
cc @darthhexx
The source image is not specifying the correct colour type according to the PNG specification. If you run (you will need GraphicsMagick installed):
gm identify -verbose Image.png | grep 'Png:IHDR.color-type'
You will see it is set to 2, but it should be set to 6. Ref: https://www.w3.org/TR/PNG-Chunks.html
To fix the source image, you will need to re-save by using Gimp to export it as PNG (or some similar tool) and then re-upload the image. Magically the background will be transparent, because Gimp fixes the issue automatically. You can confirm this via CLI too, by performing the same command as above and you will see the type is now 6.
@arunsathiya if all your PNGs are showing this same defect, please can you send me your test site URL so I can check them out. Thanks.
Most helpful comment
The source image is not specifying the correct colour type according to the PNG specification. If you run (you will need GraphicsMagick installed):
You will see it is set to 2, but it should be set to 6. Ref: https://www.w3.org/TR/PNG-Chunks.html
To fix the source image, you will need to re-save by using Gimp to export it as PNG (or some similar tool) and then re-upload the image. Magically the background will be transparent, because Gimp fixes the issue automatically. You can confirm this via CLI too, by performing the same command as above and you will see the type is now 6.
@arunsathiya if all your PNGs are showing this same defect, please can you send me your test site URL so I can check them out. Thanks.