2024

World

Bitcoin

Worldcoin

when

<h4><strong>The Personal Information Protection Commission (PIPC) <a href="https://www.pipc.go.kr/np/cop/bbs/selectBoardArticle.do?bbsId=BS074&amp;mCode=C020010000&amp;nttId=10608" target="_blank" rel="noopener noreferrer nofollow">slapped a fine</a> of 1.1 billion Korean won ($850,000) on both organizations. </strong></h4>
<p>This is for illegally gathering iris scans from nearly 30,000 people in the country. Let’s explore more about this news for Worldcoin.</p>
<h5><strong>Worldcoin Fined for Breaking Privacy Laws</strong></h5>
<p>The trouble started when local complaints and media reports suggested that Worldcoin was offering cryptocurrency in exchange for users’ iris data without getting proper consent. Worldcoin, which manages the World App cryptocurrency wallet, had people’s irises scanned, but the commission found that users weren’t given clear information about how their data would be used or how long it would be kept.</p>
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      <p>On top of that, they sent the data overseas without informing people about which countries received their information or who to contact. Initially, the consent forms were only in English, making it tough for many Korean users to fully understand what they were agreeing to until a Korean version was released months later.</p>
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<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6d1.png" alt="🛑" class="wp-smiley" style="height: 1em; max-height: 1em;"> South Korea’s Personal Information Protection Commission (PIPC) has fined <a href="https://twitter.com/hashtag/Worldcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Worldcoin</a> and its development company, Tools For Humanity (TFH), 1.1 billion won ($830,000) over personal data mishandling. <a href="https://twitter.com/hashtag/Worldcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Worldcoin</a> <a href="https://twitter.com/hashtag/DataPrivacy?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DataPrivacy</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/jHRmh2g6yU" rel="noopener noreferrer nofollow">https://t.co/jHRmh2g6yU</a></p>
 <p>— The Tech Report (@thetechreport) <a href="https://twitter.com/thetechreport/status/1840721160364827016?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 30, 2024</a></p>
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      <p>In its defense, Worldcoin claimed that it used the iris data not to identify people but simply to prevent duplicate registrations. They argued that the data was anonymous and that no one could link it back to any individual. However, the commission disagreed, saying that iris data is unique to each person, and using it this way is still a <a href="https://elaw.klri.re.kr/eng_service/lawView.do?hseq=53044&amp;lang=ENG" target="_blank" rel="noopener noreferrer nofollow">violation of privacy laws</a>.</p>
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<p>Worldcoin’s iris scanning practices have sparked concern not just in South Korea but also in countries like India, Hong Kong, and Germany, all of which are keeping a close eye on the project. Singapore has launched an investigation into people offering to buy and sell Worldcoin-related services. Worldcoin claims that these individuals do not officially connect to the project.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/worldcoin-fined-for-illegal-data-collection-in-south-korea/" rel="noopener noreferrer nofollow">Worldcoin Fined for Illegal Data Collection in South Korea</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Worldcoin Fined for Illegal Data Collection in South Korea

Altcoin Buzz

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