Worldcoin has launched new measures to combat the black market, including adjustments to the face-to-face registration process.
According to BlockBeats news on May 19th, Sam Altman, CEO of OpenAI and founder of cryptocurrency company Worldcoin, announced new measures to combat black market activity. "Through continuous threat and awareness monitoring measures, the Worldcoin team has identified suspicious and potential fraudulent activities that prompt individuals to register a verified World ID and then deliver it to a third-party World App instead of their own."
Worldcoin has taken several steps to try to control the problem, including "adjustments to the initial face-to-face registration process and the implementation of dynamic and static QR codes." "Despite these preventive measures, it is important to recognize that they cannot completely prevent attempts to circumvent the one-person-one-proof principle. Innovative ideas in mechanism design and social relationship attribution will be necessary to address these challenges."
Previously, BlockBeats had tweeted that due to Worldcoin's restriction on mainland users, a new black market had emerged where KYC merchants collected iris scans from local villagers in Cambodia (and reportedly also in Kenya and other African regions) and sold them to cryptocurrency users for $30 or lower, in order to complete Worldcoin App registration and obtain rewards. The incident sparked widespread criticism on social media.
A Worldcoin spokesperson later acknowledged these events in a written statement to The Block, but emphasized that the issue was limited to "a few hundred instances."