Level on par with FTX! An on-chain detective criticizes World Coin as a predatory token, and iris verification has instead given rise to a black market.

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

On April 28, in an X post, ZachXBT continued the thread following Musk’s “Scam Altman” post from the previous day, shifting the focus from the OpenAI lawsuit to Sam Altman’s other company, WorldCoin (now named World), and the $WLD token, and presenting four structural concerns. The same day, the Musk–OpenAI lawsuit was being heard by the Northern District of California (see related reports).

ZachXBT’s main tweet: Four questions

Key points from ZachXBT’s original tweet translation:

1. $WLD is a “predatory low-liquidity token,” which he described as having a structure “on par with SBF / FTX companies”
2. Targeting residents of low-income countries: exchanging small amounts of $WLD for iris biometric data
3. The “proof of human” design instead leads to black markets: verified World accounts are bought and sold
4. Token supply inflation while insiders continue OTC distribution

ZachXBT also added: “Black markets for KYC-passed accounts are mainly on Telegram right now, not Facebook.”

Replies from string-thread contributors

Under ZachXBT’s main tweet, multiple resident on-chain analysis accounts and individuals from the named countries continued to speak:

• @somaxbt shared a screenshot pointing out: “In the past 90 days, insiders sold roughly $64 million worth of WLD OTC”
• @serpinxbt mentioned: Early Facebook groups traded verified accounts at about $65 each; the trading volume through this channel has since dropped
• ZachXBT cited an older post of his own: When WLD launched, the vesting-plan page blocked public visibility of token unlock timelines via VPN IP geofencing
• Several users from the Philippines (@Raimasamune), the Philippines (@_zynxonchain), Kenya (@KenyaFraternity), @0xdefrank, Sri Lanka (@AlwisInoka), and others shared firsthand accounts: their countries do indeed have scenarios where “iris scans are exchanged for about $10,” and some interviewees even did not know what the data would be used for

There are also different voices. @Myhackz commented: “Whether people are willing to get paid for biometric data is a personal choice, unrelated to token value.”

Context: An extended battleground on the same day as the Musk vs. Altman lawsuit

The timing of ZachXBT’s tweet coincided with Musk’s outward attack on OpenAI’s “Scam Altman” lawsuit. Musk’s case focuses on OpenAI’s corporate governance and paths toward monetization; ZachXBT’s tweet instead turns the spotlight to another controversial business venture of Sam Altman outside of OpenAI. Although the two are not legally linked, they deepen the exposure of Altman personally and the related enterprises in the public opinion arena.

So far, WorldCoin/World officials 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