Worldcoin Faces Singapore Probe Over Illicit Account Sales

Before Singapore’s scrutiny, the coin has rolled out new privacy features in response to increased regulatory scrutiny, aiming to enhance user empowerment and network integrity. At the heart of these updates is the introduction of “Personal Custody” and a new “Unverify World ID” option. Utilizing state-of-the-art Zero-Knowledge Proofs (ZKPs), this innovative feature allows for transaction verification without exposing sensitive information such as transaction amounts or participant identities. The integration of ZKPs guarantees secure and private transactions, protecting users’ financial privacy against external observation.

Additionally, World ID holders now have the option to permanently erase their iris code, which deactivates their World ID. This deletion initiates a mandatory six-month “cool-off” period designed to reduce fraud risks. After this period, the user’s iris code is irreversibly removed, enhancing privacy protections further. Worldcoin has also implemented on-site age verification to ensure that only individuals aged 18 and above can access the platform. These robust privacy enhancements not only signify a major development for the cryptocurrency but also reflect its commitment to prioritizing user-centric innovation.