Worldcoin scam allegations are now front and center. ZachXBT responded to Elon Musk’s “Scam Altman” post, shining a light on long-standing concerns about Worldcoin. He claims the project is running a “predatory low float crypto token” model, directly comparing its tactics to the infamous FTX empire of Sam Bankman-Fried.
The criticism doesn’t stop there. ZachXBT alleges the project is exploiting vulnerable populations. Here’s the playbook: give away tiny amounts of WLD tokens in exchange for sensitive biometric data (iris scans) from people in low-income countries. The technology, intended for human verification, has instead fueled a black market for verified accounts, with credentials selling for as little as $0.50 each.
Worldcoin Scam Allegations Are Crushing the Token and Market
The tokenomics are equally alarming, according to the investigator. He points to massive, unsustainable token supply inflation and insider dumping. Specific examples include the World Foundation selling 85.45 million WLD for just 25million(0.293 average) and other entities selling huge sums at a 76% discount to earlier funding prices.
The market is reacting. WLD fell over 2% on the news, currently trading around $0.2519. It’s now down more than 97% from its peak. Derivatives data shows profit booking, adding to the bearish pressure. Furthermore, a massive token unlock in July 2026 could release nearly 169% of the current circulating supply, posing a huge risk.
Elon Musk’s OpenAI Trial Adds to the Controversy
These Worldcoin scam allegations arrive as Elon Musk’s high-stakes lawsuit against Sam Altman and OpenAI goes to trial. Musk is seeking $150 billion in damages, accusing Altman of abandoning OpenAI’s nonprofit mission for commercial gain. Prediction markets give Musk a 60% chance of winning.
My Thoughts
This is a brutal takedown. ZachXBT isn’t throwing around accusations lightly; he’s showing receipts. The parallels drawn to the FTX collapse are deeply concerning. For investors, the tokenomics look like a ticking time bomb with massive insider OTC dumps and a looming unlock that could crush the price further. The exploitation of biometric data is a serious ethical, and potentially legal, issue. This could be the beginning of the end for the Worldcoin project. For now, WLD is in a high-risk category. The OpenAI trial will only keep the spotlight on Altman and his associated ventures.
