The pseudonymous on-chain sleuth known as ZachXBT is criticizing Sam Altman’s Worldcoin (WLD) for alleged biometric data-scam practices, drawing parallels to the collapse of the FTX exchange.
Shots were fired in a reply to a tweet posted by Elon Musk, whose lawsuit against Altman’s OpenAI is now heading to trial.
Responding to Musk’s post branding Altman “Scam Altman,” ZachXBT raised concerns about the WLD token, which he called “predatory” and “low float,” arguing that it echoes some of the most fraudulent crypto initiatives.
Worldcoin token’s biometric model has resulted in a black market, ZachXBT says
At the core of the criticism is the project’s biometric model, which ZachXBT alleges has led to some questionable practices in lower-income regions.
Specifically, the crypto detective claims that small token payouts were used to collect sensitive biometric data, raising ethical and privacy concerns.
This has led to what the post described as a growing “black market for verified accounts,” which are sold cheaply on platforms such as Telegram. Replying to some of the comments on his post, ZachXBT also noted that, at launch, Worlcoin geo-blocked the tokenomics for Virtual Private Network (VPN) IPs to prevent people from reading the vesting details.
Featured image via Shutterstock
Source: https://finbold.com/zachxbt-slams-sam-altmans-worldcoin-over-exploiting-users-for-biometric-data/
