South Korea launches probe on Worldcoin as privacy concerns mount
Quick Take
- South Korea’s privacy authority announced an investigation on Worldcoin after receiving reports concerning the project’s collection of sensitive information.
South Korea’s Personal Information Protection Commission has launched an investigation on Worldcoin after receiving complaints about the project’s collection of personal information, especially in scanning people’s irises in return for cryptocurrency.
The authority said in a press release on Monday that it will examine Worldcoin 
WLD
+1.40%
’s collection, processing and potential overseas transfer of sensitive personal information. It will take action against the project if it discovers any violation of the local privacy rules, the commission said.
The commission added that Worldcoin has been collecting information regarding people’s faces and irises at ten locations across South Korea as of Monday.
The privacy watchdog previously imposed a fine of 3.6 million Korean won ($2,703) on OpenAI last year, after it discovered that personal information belonging to 687 South Korean citizens were leaked via ChatGPT. Worldcoin was co-founded by OpenAI CEO Sam Altman.
RELATED INDICES
Worldcoin, the identity-focused crypto project, utilizes an Orb device to scan people’s irises for verification purposes. In exchange for signing up to the protocol, participants receive WLD tokens. Other jurisdictions have also raised concerns about Worldcoin’s unconventional sign-up process, with Hong Kong being the most recent example.
The price of Worldcoin fell 4.18% in the last 24 hours to $7.99 as of Asia afternoon on Monday, according to The Block’s Price Page.
Worldcoin did not immediately respond to The Block’s request for comment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
