Sam Altman, founder of a leading AI startup OpenAIis facing renewed scrutiny within the crypto community due to concerns surrounding its digital identity project, World Currencyintensify.
Criticism has grown over the way user data is handled, particularly biometric information collected through the platform.
At the same time, questions around the project’s tokenomics, particularly the structure and distribution of its native token Worldcoin (WLD), have raised concerns about possible internal activity affecting supply dynamics.
Biometric incentives for alleged exploitation
Criticism of Altman intensified after a pseudonymous on-chain investigator, ZachXBT, publicly accused the project of exploiting the data collected. His remarks followed a message published on X by Elon Muskwho called Altman the “Altman Scam.”
Worldcoin works by scanning users’ irises through a device known as an “Orb”, creating a unique digital identity designed to verify human presence online. In return, users receive WLD tokens, part of a larger effort to build a global identity and financial network.
According to ZachXBT, however, the system was used to “prey” on individuals in low-income areas.
The investigator argued that a tool initially intended to verify human identity instead contributed to the emergence of a black market in verified accounts.
Furthermore, the investigator claimed that biometrics-related accounts were now being traded on clandestine channels.
Pointing to Telegram as a key venue for such activity, ZachXBT noted:
The current black market for KYC accounts is still on Telegram if you know where to look
Tokenomics concerns are growing
Beyond data usage, the review also focused on Worldcoin’s token structure.
ZachXBT described WLD as a “low float” asset and compared its setup to entities associated with Sam Bankman-Fried and the now disappeared FTXhighlighting concerns about supply concentration and ongoing issuance.
He noted that the token supply continues to grow to levels he described as unsustainable, while insiders offload their holdings via over-the-counter (OTC) transactions.
Blockchain Intelligence Platform Arkham Secret Service reported that the project team has sold approximately $65 million worth of WLD over the past 90 days.
Data from CoinMarketCap showed that just 10 wallets control around 69% of the token supply, raising new centralization concerns.
Skepticism around WLD tokenomics is not new. In 2024, ZachXBT questioned the project’s acquisition transparency, noting that some details seemed restricted or geo-blocked for some users.
Recent data from DeFiLlama reported that WLD is undergoing ongoing daily token unlocking.
The project puts approximately $1.21 million worth of tokens into circulation each day and will continue this schedule until July 2029, when daily unlocks will decrease to approximately $402,000.
WLD price performance remains under pressure
Worldcoin’s market performance reflected the growing uncertainty. On April 5, WLD fell to an all-time low of $0.2399, a sharp drop from its high of $11.82 during the previous market optimism.
Technical analysis showed that the altcoin remained in a sustained downtrend for months, with price action consistently capped by a descending resistance trendline.
Momentum indicators reinforce the bearish outlook. The Moving Average Convergence Divergence (MACD) has formed a death cross, a signal often associated with prolonged bearish pressure.
Meanwhile, the Accumulation/Distribution indicator suggests continued distribution, with approximately 1.2 billion WLD entering the market.
Final summary
- Sam Altman’s Worldcoin faces allegations of internal activities and misuse of users’ biometric data.
- The WLD token hits an all-time low, with indicators pointing to the risk of further decline.
