South Korea Announced That It Opened an Investigation into the Recently Popular Altcoin!

South Korea Personal Information Protection Commission, worldcoin launched an investigation into the project following numerous complaints about its handling of personal data, particularly its practice of scanning individuals’ irises in exchange for cryptocurrency.

South Korea Launches Investigation About Worldcoin

The regulator announced in an official statement today that it intends to review Worldcoin’s procedures for collecting, processing and potentially transferring sensitive personal information overseas.

The Commission stressed its commitment to enforcing local privacy regulations and promised to take appropriate measures should any breaches occur.

According to the commission’s statement, Worldcoin has been actively collecting data on individuals’ faces and irises at ten different points across South Korea since the date the investigation began.

This is not the first time South Korean authorities have intervened in matters related to privacy violations.

Last year, the Personal Information Protection Commission fined OpenAI, founded by Worldcoin CEO Sam Altman, 3.6 million Korean won ($2,703) after it found that the personal information of 687 South Korean citizens was leaked through ChatGPT.

Worldcoin, which positions itself as an identity-focused cryptocurrency project, uses an Orb device to scan individuals’ irises as part of the verification process.

Participants are rewarded with WLD tokens for signing up to the protocol. Concerns about the project’s unorthodox registration procedure have also been raised in other jurisdictions, of which Hong Kong is the latest example.

*This is not investment advice.

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