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Worldcoin (WLD) is under investigation for privacy in Hong Kong. Authorities have obtained a warrant to enter the six offices and seize the sensitive data collection documents of the crypto project’s biometric scanning. 

Worldcoin (WLD) and Hong Kong’s privacy investigation on the crypto project

According to what is reported, it seems that the crypto project of Worldcoin (WLD) is under investigation for privacy.

The authorities of Hong Kong from the Office of the Privacy Commissioner have obtained a warrant to seize documents related to the use of data collected by Worldcoin.

This is a real control for the biometric scanning crypto project. On Wednesday, in fact, privacy authorities visited the six Worldcoin offices in the city, located in Yau Ma Tei, Kwun Tong, Wan Chai, Cyberport, Central, and Causeway Bay,

In this regard, Chung Liling, the Privacy Commissioner for Personal Data in Hong Kong, stated that the public should be more vigilant about their biometric data and should also avoid casually giving it to third parties.

Not by chance, the crypto project offers 25 WLD to those users who scan their eyes through the Orb optical device. Orb collects the data and demonstrates the “personality” of each verified user. 

This procedure has been deemed by privacy authorities as a possible violation of certain provisions of the city’s privacy ordinance.

Worldcoin (WLD) and the privacy of the crypto project’s users

While browsing the Worldcoin privacy FAQs page, the crypto project clarifies the following:

“Does Orb store biometric images? By default, Orb immediately deletes iris images after creating the iris code. Individuals have the option to back up their images when verifying their World ID. Iris images are shared with Worldcoin to train the project’s iris detection and segmentation models and similar algorithms.”

In practice, by default, the Orb device promptly deletes the scanned iris images of the user, after creating the iris code. 

However, users can choose to store their biometric data on servers distributed by Worldcoin. 

The Worldcoin signed method, besides Hong Kong, seems to be disliked by other countries as well. In fact, the crypto project has also been investigated in Argentina, France, and Kenya. 

The price of WLD

At the moment, the Worldcoin privacy investigation does not seem to be affecting the price of its WLD token. 

And indeed, WLD is now worth $2.33, with a +4.4% pump in the last 24 hours. Not only that, exactly on Tuesday 30/1, WLD recorded a more substantial pump in price that brought it to reach $2.72.

However, around the Christmas period, WLD had reached $4.44, exactly on December 17, 2023. This pump came in conjunction with the launch of World ID 2.0, the “human” digital passport aimed at safeguarding privacy and distinguishing between bots and human users online.

To complement World ID 2.0 since its launch, general apps and services such as Shopify, Minecraft, and Reddit have been added.

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TLDR

A token on the BNB Chain witnesses a rug pull, with its value tanking by almost 100%.

Polkadot’s latest quarterly report reflects impressive growth as it prepares for Polkadot 2.0.

New meme coin Rebel Satoshi blends history, whimsicalness, and a rally for decentralized finance.

BNB (BNB) and Polkadot (DOT) firmly remain in the list of top 10 altcoins. While the former finds itself in an episode of malpractice, the other looks to build on a successful previous year.

Rebel Satoshi ($RBLZ) is another considerable development in crypto, emerging as a contender in memecoins. Stay tuned to learn more about this rebellious project. 

First up, a look at the latest for BNB and Polkadot.

WEWE Token on BNB Chain Experiences Significant Sell-Off in Rug Pull

The dreaded ‘rug pull‘ has reared its ugly head, affecting even the best DeFi projects like BNB Chain. Cybersecurity firm AegisWeb3 noted something fishy on January 15, 2024, about the price of WEWE, a token ‘minted’ by the BNB Chain.

After a typical rally, WEWE fell sharply by a staggering 98.2% drop in what can only be described as a ‘rug pull.’ Such an event leaves a bitter taste in the mouths of users who will think twice before using the BNB Chain. Even with this unfavorable development, BNB’s value remains untainted amid Binance’s regulatory issues in Asia.

BNB is worth $316, 9% higher than its value the week prior of $289. Most forecasts suggest it can reach $400 or higher before 2024 ends.

Polkadot Releases Positive Q4 2023 Report

Top crypto coins like Polkadot commonly release Q4 reports during the start of a new year reflecting the past. The Polkadot developers recently revealed the blockchain’s Q4 2023 report. The main takeaway of the findings was that of sustained organic growth.

Key insights include the spikes in transactional data in 2023, particularly in the last month. Polkadot reached over 1 million transactions on December 21, 2023 (due to inscriptions), the highest since the 941,000 achieved in May 2021. Despite the enormous growth, the report noted the stability in fees. 

Regardless of this performance, DOT is down slightly (13%) on the charts from $8.60 to $7.50. With Polkadot 2.0 expected for Polkadot in the first quarter of 2024, it should improve DOT’s value. Moreover, estimates imply DOT can reach a minimum of $30 by 2025.

Finally, let’s dive deeper into one of the most talked-about meme coins, Rebel Satoshi.

Rebel Satoshi Is Poised to Be The Next Meme Token Sensation

Rebel Satoshi is an emerging memecoin sensation proving to be among the best cryptos to invest in. It has a mission to rebel against the financial status quo while celebrating historic rebellious figures and fostering an amusement-filled environment.

Rebel Satoshi is more than a meme token; it’s a decentralized finance movement. Achieving $100 million in market cap is key to realizing these ambitions and maintaining a constantly rewarding ecosystem.

At the center of Rebel Satoshi‘s activities is the $RBLZ token, a staple in ERC20 coins. It has favorable tokenomics, boasting a capped supply of 250 million. The first major perk of holding $RBLZ is entry into the enchanting Rebel Artefacts Vault, an NFT marketplace with 9,999 unique collectibles and digital art characters. Staking is another benefit, as users can gain low-effort passive returns ‘locking’ up their tokens.

Besides the market cap goal, Rebel Satoshi aims to launch a play-to-earn game in the near future. Selling out the ongoing presale precedes this excitement, with $RBLZ trading for $0.022. The token is 120% higher than its value in the first round ($0.010) and will gain 13.6% to $0.025 in this last round. Moreover, developers are preparing to launch $RBLZ on multiple exchanges next month!

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

*This article was paid for. Cryptonomist did not write the article or test the platform.