The launch of the Worldcoin token was supposed to take place over the coming weeks, but the scammers have already figured out how to deceive the system, writes RBC Crypto with reference to The Block. Project from ChatGPT creator Sam Altman forced to change security measures
According to the developers’ plans, the Worldcoin token will be issued to users who have been identified using an iris scan. The technology scans the eye and, based on this, creates a digital World ID for the user, which can be used “in a wide range of everyday applications without revealing identity,” the company said. More than 1.7 million people have already registered in the project.
On May 18, Chinese outlet BlockBeats reported that residents of China, where people cannot register to receive Worldcoin tokens, are buying iris scans made in Cambodia and Africa for as little as $30. A Worldcoin spokesperson acknowledged these incidents, but emphasized that the problem was limited to “a few hundred cases,” the newspaper writes.
“Through constant threat monitoring and awareness, the Worldcoin team detected suspicious activity where people were incentivized to create a World ID, which was then sent to a third party,” they said.
Worldcoin has taken a number of steps to try to address the issue, including “adjusting the in-person initial registration process” and implementing dynamic and static QR codes.
The illegal sale of IDs can also be prevented by the possibility of returning them to the user by rescanning the eye, the developers say. However, Worldcoin has previously stated that it will not store iris scans in order to eliminate the risk of losing confidential data.
The company admitted that, despite all these precautions, they do not fully protect the system from attempts by fraudsters to circumvent the principle of “one person – one proof.”
“To solve these problems, innovative ideas in the field of developing mechanisms and attribution of social relations will be required,” the authors of the project quote the publication.
On May 15, it became known that Sam Altman was negotiating with investors to raise about $100 million for the Worldcoin project. Previously, the project was funded by Khosla Ventures, crypto fund Andreessen Horowitz, and FTX founder Sam Bankman-Fried.
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