As the trend of biometric data collection by projects like Worldcoin grows, China's Ministry of State Security has issued a warning about potential security threats.
Advisory from China's Ministry of State Security
On August 6, China's Ministry of State Security (MSS) released a public advisory through its official WeChat account, warning that facial, fingerprint, and iris data are increasingly being harvested under false pretenses, including using crypto incentives as bait. The MSS emphasized that such practices could pose serious threats to personal privacy and national security, pointing to examples where foreign actors collected similar data under the guise of identity verification or token distribution.
Development and Controversies of the Worldcoin Project
Worldcoin, recently rebranded to World, was launched in July 2023 by Tools for Humanity, a tech company co-founded by OpenAI CEO Sam Altman. The project aims to build a global digital identity system called 'World ID,' requiring users to verify their identity by scanning their iris using a device called the Orb. While it promotes privacy, Worldcoin has faced backlash in several regions over how it collects and stores biometric data, particularly from governments in Kenya, Hong Kong, and elsewhere.
Token Prices and Their Decline
The WLD token associated with Worldcoin has shown a significant decrease in value. Currently, it is trading at $0.94, down nearly 45% over the past year and approximately 90% from its all-time high. The decline in token prices has largely been driven by negative regulatory pressure, including the advisory from China, which could worsen the situation.
China's warning regarding biometric data collection underscores the growing concerns around privacy and the integrity of digital asset projects like Worldcoin.
