Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG
No Result
View All Result
Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG
No Result
View All Result
Invest In Crypto News
No Result
View All Result

Worldcoin Project Halted In Hong Kong By Privacy Commission

CryptoExpert by CryptoExpert
May 23, 2024
in Altcoin News
0
Worldcoin, crypto
  • Facebook
  • Twitter
  • Pinterest


You might also like

BNB Crosses $800 While DOGE and XRP Log Double-Digit Gains

Celestia Ships V0342 Corto Update For Corto Testnet Nodes

Kamino Names Yieldstreet Co Founder Michael Weisz Ceo For Us Expansion

Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) has served an enforcement notice to Worldcoin, a crypto project co-founded by OpenAI’s CEO Sam Altman, asking them to cease operations. The resolution concludes the investigation launched by the PCPD in January 2024.

Hong Kong Halts Worldcoin Activities

At the beginning of the year, Hong Kong’s PCPD announced it would investigate Worldcoin’s activities as they could pose a “risk to personal data privacy.”  The Privacy Commission investigated six Worldcoin facilities in Yau Ma Tei, Kwun Tong, Wan Chai, Cyberport, Central, and Causeway Bay.

PCPD’s Privacy Commissioner, Ada Chung Lai-ling, found that the crypto project had broken the Data Protection Principles (DPPs) regarding the collection, retention transparency, data access, and correction rights.

The Worldcoin project scanned participants’ iris to verify their identity and receive the project’s native cryptocurrency, WLD.

Phemex

According to the statement, the investigation revealed that participants were required to allow certain organizations to collect their faces and iris images through iris scanning in an “unnecessary and excessive” manner.

The project confirmed that 8,302 individuals had their faces and irises scanned for verification during its operation in Hong Kong. PCPD argues that the project collected personal data “unfairly” as important policies were not available in Chinese:

In particular, the relevant “Privacy Notice” and “Biometric Data Consent Form” were not available in Chinese, the iris scanning device operators at the operating locations also did not offer any explanation or confirmed the participants’ understanding of the aforesaid documents.

The Privacy Commission considers there was a lack of sufficient transparency for those using the Chinese-language version to understand and consent to the relevant policies.

Additionally, Hong Kong’s PCPD stated that Worldcoin did not inform participants of the risks involving their disclosure of biometric data nor answer users’ questions. Therefore, the project contravened the Personal Data Privacy Ordinance (PDPO) as participants did not have the “means to exercise their rights of data access and correction.”

Based on this, the commission asked for the immediate cease of the Worldcoin Foundation’s operations involving scanning and collecting iris and face images of the public using iris scanning devices in Hong Kong.

Global Scrutiny And New System

Hong Kong’s crackdown is one of many challenges faced by Worldcoin worldwide. Since its announcement, the project has faced global regulatory scrutiny from countries like Germany, France, and Kenya.

Amid the global challenges, the Worldcoin Foundation recently unveiled a new open-source system to tackle some of the issues raised by authorities. The new system allows the project to adopt advanced data protection measures to more effectively “safeguard sensitive information.”

Through its secure multi-party computation (SMPC), Worldcoin has increased the security of the stored information by distributing the data through different locations. As a result, Worldcoin has deleted the iris codes obtained during user registration.

Ultimately, the new approach aims to address concerns about sensitive data storage, scale, and cost limitations, reducing the risk of security breaches.

WLD is trading at $5.05 in the weekly chart. Source: WLDUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com



Source link

  • Facebook
  • Twitter
  • Pinterest
CryptoExpert

CryptoExpert

Recommended For You

BNB Crosses $800 While DOGE and XRP Log Double-Digit Gains

by CryptoExpert
September 22, 2026
0
BNB Crosses $800 While DOGE and XRP Log Double-Digit Gains

Key TakeawaysBitcoin’s price reached $87,000 for the first time since Jan. 30, driving a broader market rally for altcoins.Ether rose 6% to $2,770, while BNB, XRP, and DOGE...

Read more

Celestia Ships V0342 Corto Update For Corto Testnet Nodes

by CryptoExpert
September 21, 2026
0
Celestia Ships V0342 Corto Update For Corto Testnet Nodes

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Celestia has released v0.34.2-corto for celestia-node. The release is specifically for the Corto testnet....

Read more

Kamino Names Yieldstreet Co Founder Michael Weisz Ceo For Us Expansion

by CryptoExpert
September 21, 2026
0
Kamino Names Yieldstreet Co Founder Michael Weisz Ceo For Us Expansion

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Kamino Finance has appointed Michael Weisz as CEO. Weisz co-founded alternative-investment platform Yieldstreet. His...

Read more

Near Ships Nearcore 2 14 0 Rc With Protocol And Database Upgrade

by CryptoExpert
September 21, 2026
0
Near Ships Nearcore 2 14 0 Rc With Protocol And Database Upgrade

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR NEAR has released nearcore 2.14.0-rc.1. The release is marked as both a protocol and...

Read more

Zcash Price Holds Above $1,440 After Sharp Rally Pullback

by CryptoExpert
September 20, 2026
0
Zcash Price Holds Above $1,440 After Sharp Rally Pullback

Key TakeawaysZcash (ZEC) pulled back to $1,429 on Sunday, ending a multi-day streak of double-digit percentage gains.Grayscale’s 3-for-1 share split announcement for its $914M ZEC ETF coincided with...

Read more
Next Post
Ethereum ETFs

Price Rally: Hong Kong's Ethereum ETFs Jump 18% On Expectations Of US Approval

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

Sitemap

  • Market Cap
  • Donations
  • Trading
  • Mining
  • Contact

Legal Information

  • Privacy Policy
  • Anti-Spam Policy
  • Copyright Notice
  • DMCA Compliance
  • Social Media Disclaimer
  • Terms Of Service

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

© Copyright 2024 InvestInCryptoNews.com

No Result
View All Result
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • BLOG

© Copyright 2024 InvestInCryptoNews.com

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy
bitcoin
Bitcoin (BTC) $ 85,533.00
ethereum
Ethereum (ETH) $ 2,736.32
tether
Tether (USDT) $ 0.999735
bnb
BNB (BNB) $ 788.00
xrp
XRP (XRP) $ 1.52
usd-coin
USDC (USDC) $ 0.99983
solana
Solana (SOL) $ 116.78
tron
TRON (TRX) $ 0.348605
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
zcash
Zcash (ZEC) $ 1,455.21

Pin It on Pinterest

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?