On-Chain Investigator ZachXBT Challenges Worldcoin Over Iris-for-Token Model and Predatory Tokenomics

Worldcoin, co-founded by OpenAI CEO Sam Altman, uses its Orb devices to scan irises and create World IDs, distributing WLD to users who complete verification. The model links biometric data and identity verification with crypto assets. It has long faced scrutiny over privacy and governance because iris data is difficult to replace and token distribution can affect market prices.

On-chain investigator ZachXBT recently raised four structural concerns, calling WLD a “predatory low-float token” and saying the exchange of iris data for tokens has fueled a black market for accounts. His comments came as litigation between Elon Musk and OpenAI continued. Related reports did not disclose the date of the post, any sums involved or the size of the black market, leaving token circulation, internal allocation and user risk at the heart of the dispute.