#worldcoin
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South Korea Fines Worldcoin $829,000
South Korea’s regulator fined Tools For Humanity and the Worldcoin Foundation, the entities behind the famous iris scanning solution, $829,000 for violating personal data protection laws. Officials have also provided recommendations for improving the product in terms of regulatory compliance. Worldcoin Bolsters Team with Google and Apple Veterans
Tools for Humanity (TFH), the developer of the Worldcoin project, has recruited four former leaders from top tech companies (Google, Apple, and X) to enhance data privacy and security. Damien Kieran, who previously managed privacy at X, will now take on a similar role at Worldcoin. 
Worldcoin Puts Orb Operations on Pause in Three Countries
For undisclosed reasons, Worldcoin has suspended the use of its eye scanner, Orb, for biometric verification in Brazil, India, and France. According to company representatives, this decision was made to comply with regulatory requirements in these countries. 
Worldcoin Developer Eyes Investment Through WLD Token Sale
The lead developer of Worldcoin, Tools For Humanity, is considering selling WLD tokens to attract funding and is currently engaging in preliminary discussions with investors. Unofficially, it is understood that they are looking to sell these tokens at a 50-60% discount, aiming to raise $50 million. 
Arrest of Worldcoin’s Top Managers in Kenya Blocked by US
Kenya’s interior cabinet secretary Kithure Kindiki stated that individuals attempted to exit the country but were detained.
However, the U.S. government stepped in, asserting they should be permitted to depart since they hadn’t been formally convicted of any wrongdoing.
The U.S. further promised to ensure their return if needed for legal proceedings.
The committee probing Worldcoin has until September 28 to submit its findings.
It’s interesting to note that last week, Sam Altman was seen in a private meeting with Kenya’s President William Ruto and some other individuals. 
Kenya Suspends Worldcoin’s Activities
Kenya’s Interior Minister Kithure Kindiki announced the suspension of Worldcoin’s local activities in the country.
Relevant agencies are conducting inquiries and investigations to determine the authenticity and legality of the activities, ensuring the absence of risks to Kenyans.
The video shows people lining up to have their irises scanned, with the promise of receiving 25 free Worldcoin tokens ($56) in Kenya.
We've previously detailed Sam Altman's vision for the Worldcoin project in our article. FTX Estate to Auction 22.3 Million Worldcoin Tokens
FTX Estate is set to auction 22.3 million Worldcoin (WLD) tokens at a significant discount, currently valued at $35 million. This sale is part of the ongoing efforts to recover funds for creditors of the bankrupt crypto exchange founded by Sam Bankman-Fried.
France's Data Watchdog Investigates Worldcoin
The French Data Protection Agency (CNIL) has conducted inspections at Worldcoin's Paris office due to concerns about the company's biometric data collection practices. Worldcoin, co-founded by ChatGPT CEO Sam Altman, scans users' irises in exchange for a digital ID and the promise of free cryptocurrency. The Worldcoin Foundation, incorporated in the Cayman Islands, has expressed its willingness to undergo the review and affirms its commitment to complying with regulatory requirements. Police conduct raid at Worldcoin warehouse in Nairobi
Local media in Nairobi reports that the police have raided a Worldcoin warehouse, confiscating documents to probe into the company's conduct.
The Data Commissioner alleges that the company failed to disclose its actual goals when registering.
The data from iris-scanning technology becoming compromised is a rising fear among industry specialists.
Nevertheless, Worldcoin maintains that they've safeguarded all pertinent data. 