PEOPLESECURITY

WorldCoin sparks controversy, online detective ZachXBT raises multiple concerns, SlowMist founder: "Evil creation"

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WorldCoin sparks controversy, online detective ZachXBT raises multiple concerns, SlowMist founder: "Evil creation"

With the rise of ChatGPT, founder Sam Altman's previous iris project WorldCoin has once again garnered attention, and the lightning-fast coin issuance of WorldCoin has brought the project to new heights of popularity, but also attracted much criticism.

Blockchain Detective ZachXBT Details Concerns About WorldCoin

Exaggerating User Base, Exploiting People in Developing Countries

ZachXBT referenced a report from MIT Technology Review in April last year, pointing out that while WorldCoin claims to promote universal basic income, their actions involve building a biometric database using impoverished individuals.

The company aims to acquire 1 billion registered users this year, with scans conducted in 24 countries as of March last year, including 14 developing countries and 8 in Africa.

WorldCoin Faced with Proliferation of Fake Accounts

It seems that only verification of real users occurs during registration, leading to a black market for WorldCoin irises, with accounts being sold on Telegram for as little as $1.

The official confirmation of the existence of a black market: WorldCoin's "Iris Black Market" hype! Cambodians scan and resell to Chinese users, WorldCoin: Hundreds of cases confirmed

Sale information

Team's Token Holdings Increase

According to a recent report on WorldCoin's latest token economy: 75% of tokens are allocated to the community, with the team and investors required to lock up for 12 months.

ZachXBT cited a previous article from Coindesk, indicating that WorldCoin increased the proportion allocated to insiders from 20% to 25% due to the overall development process and issuance being "too complex and expensive."

Increase in team's token holdings

Privacy Concerns with WorldCoin

ZachXBT also mentioned concerns raised by Ethereum founder Vitalik Buterin in a recent article regarding WorldCoin, including the possibility of a hacked phone allowing hackers to obtain a verified World ID through iris scans.

Due to these reasons, ZachXBT opposes WorldCoin, but he also points out the reality of the crypto community, where opinions on WorldCoin will change with price fluctuations:

  • Price increase: Great project

  • Price decrease: Dystopian nightmare

SlowMist Founder: Evil Creation

Yu Xian, founder of the cybersecurity platform SlowMist, also expressed his views on Twitter, believing that while many think irises have enhanced privacy protection through hash algorithms and zero-knowledge proofs, WorldCoin's ultimate goal is to create a World ID, where even with only hashed numbers, hackers could potentially reconstruct a user's identity.