Level comparable to FTX! On-chain detective criticizes World Coin as a plundering token, and iris verification has instead led to a black market.

On-Chain Detective ZachXBT raises four major structural questions about World, founded by Sam Altman, accusing $WLD of being a predatory token with risks similar to FTX.

On April 28, ZachXBT posted a tweet on X, following Elon Musk’s “Scam Altman” post the day before, shifting focus from the OpenAI lawsuit to another controversial project of Sam Altman, WorldCoin (now called World), and the $WLD token, raising four structural concerns. The same day, Musk and OpenAI’s lawsuit was being heard in the Northern District Court of California (related reports).

ZachXBT’s main tweet: Four questions

Key points from ZachXBT’s original tweet translation:

1. $WLD is a “predatory low-circulation token,” described as “comparable to SBF/FTX companies” in structure
2. Targeting residents of low-income countries: exchanging small amounts of $WLD for iris biometric data
3. “Proof of human” design has led to black markets: verified World accounts are bought and sold
4. Token supply inflation while insiders continue OTC distribution

ZachXBT added: “KYC-approved accounts are mainly traded on Telegram, not Facebook.”

Additional evidence from reply threads

Multiple on-chain analysis accounts and individuals from the targeted countries responded under ZachXBT’s main tweet:

• @somaxbt shared a screenshot indicating: “In the past 90 days, insiders have OTC-sold approximately $8B worth of WLD”
• @serpinxbt mentioned: Early Facebook groups traded verified accounts at about $65 each; currently, this channel’s trading volume has decreased
• ZachXBT cited an older post: When WLD launched, VPN IP geoblocking and vesting schedule pages prevented the public from viewing token unlock timelines
• Several users from the Philippines (@Raimasamune), the Philippines (@_zynxonchain), Kenya (@KenyaFraternity), 0xdefrank, Sri Lanka (@AlwisInoka), and others shared firsthand accounts: their countries do have scenes where “iris scans are exchanged for about $10,” with some respondents unaware of how their data is used

There are also differing opinions. @Myhackz commented: “People willing to sell biometric data is a personal choice, unrelated to token value.”

Context: The Musk vs. Altman lawsuit as an extension of the same day’s battle

The timing of ZachXBT’s tweet coincides with Musk’s public attack on OpenAI’s “Scam Altman” lawsuit. Musk’s case focuses on OpenAI’s governance and profit model; ZachXBT’s tweet targets another controversial project of Sam Altman outside OpenAI. There is no legal connection between the two, but it deepens the attack surface on Altman personally and his related ventures in the public discourse.

WorldCoin/World’s official channels have not responded to ZachXBT’s tweet.

• This article is reprinted with permission from: 《Chain News》
• Original title: 《ZachXBT Questions WorldCoin: Issues with Iris Data for WLD Exchange》
• Original author: Elponcrab