Worldcoin

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ZachXBT

World ID

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The iris-scanning digital currency project, Worldcoin (<a href="https://crypto.news/price/worldcoin/" rel="noopener noreferrer nofollow">WLD</a>), co-developed by OpenAI’s Sam Altman, has risen concerts right after its <a href="https://crypto.news/openai-ceos-worldcoin-set-to-launch-on-july-24/" rel="noopener noreferrer nofollow">launch</a> on July 24. 
Worldcoin was initially developed in 2019, offering third-world population 25 WLD for <a href="https://crypto.news/what-is-worldcoin-the-iris-scanning-crypto-project-that-sparks-privacy-debates/" rel="noopener noreferrer nofollow">scanning</a> their iris, which has risen many privacy concerns over the past day as the asset came close to launch. 
Moreover, WLD’s launch was <a href="https://crypto.news/binance-and-other-crypto-exchanges-to-list-worldcoin-wld/" rel="noopener noreferrer nofollow">followed</a> by significant listings on leading cryptocurrency exchanges, including Binance, Huobi, OKX, and Bybit. 
 You might also like: <a href="https://crypto.news/binance-and-other-crypto-exchanges-to-list-worldcoin-wld/" rel="noopener noreferrer nofollow"> Binance and other crypto exchanges list Worldcoin (WLD) </a> 
However, just hours after the launch, Crypto Twitter started discussing the project’s shortcomings. 
On-chain analyst ZachXBT shared his concerns that the Worldcoin team has been lying about the number of their users — pointing out the first 500,000 people from underdeveloped countries who scanned their iris for 25 WLD coins. 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 2/6 Most alarming to me is how the WorldCoin team has boasted about how many users they have. When in reality they have been exploiting people in developing countries.<a href="https://t.co/8pc84CQyVc" target="_blank" rel="noopener noreferrer nofollow">https://t.co/8pc84CQyVc</a> <a href="https://t.co/b9smMB4yqa" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/b9smMB4yqa</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1683512534811172864?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 24, 2023</a> 
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Per the data analyst, Worldcoin’s efforts to gather its first set of users while asking for iris scans paved the way for Worldcoin accounts’ black market. 
 You might also like: <a href="https://crypto.news/worldcoins-world-id-program-surges-past-2m-signups/" rel="noopener noreferrer nofollow"> Worldcoin’s World ID program surges past 2m signups </a> 
Furthermore, ZachXBT also pointed out the 5% increase in WLD’s insider allocation, rising from 20% to 25% of the total 10 billion supply. 
The security agency Slow Mist founder, with the Twitter handle Cos, called Worldcoin an “evil” project. He <a href="https://twitter.com/evilcos/status/1683521011235586050?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1683521011235586050%7Ctwgr%5E84ee02348d7fa40fbb5ccd65b1f0b3f997141d6e%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fwp%2Fwp-admin%2Fpost.php%3Fpost%3D14180643action%3Dedit" data-type="URL" data-id="https://twitter.com/evilcos/status/1683521011235586050?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1683521011235586050%7Ctwgr%5E84ee02348d7fa40fbb5ccd65b1f0b3f997141d6e%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fwp%2Fwp-admin%2Fpost.php%3Fpost%3D14180643action%3Dedit" rel="noopener noreferrer nofollow">said</a> that hackers might be able to create portraits of users from their iris scans. 
Worldcoin is down by 23.29% in the past 24 hours as the asset reached a local top of $3.5 a few hours after its launch. WLD is trading at $2.02 with a $216 million market cap at the time of writing. 
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 WLD price – July 25 | Source: Trading View 
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However, the asset’s trading volume has risen by 3,630%, reaching around $643 million. 
 Read more: <a href="https://crypto.news/vitalik-buterin-reflects-on-worldcoins-proof-of-humanity/" rel="noopener noreferrer nofollow"> Vitalik Buterin reflects on Worldcoin’s proof-of-humanity </a>

Crypto Twitter marks Worldcoin as ‘evil’ project

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