TechFlow reported that according to Cointelegraph, Worldcoin is facing accusations of price manipulation and fraud after delaying the unlocking of 80% of its native tokens. Earlier, on July 16, Worldcoin developer Tools for Humanity (TFH) announced changes to its native token unlocking schedule, extending the unlocking time of 80% of WLD tokens held by investors and team members from three years to more than five years, starting from July 24 and ending in July 2028.
After the unlocking time is extended, the number of tokens that will be immediately released on the market will be reduced, preventing the increase in supply from causing a sharp drop in price. According to Coingecko data, the day after the announcement, the price of WLD rose 68% in two days, soaring from $1.90 on July 15 to $2.81 on July 16, and further rose to $3.20 on July 17 before adjusting to $3.11.
On July 17, DeFi insight account DeFi Squared published a long article on X, accusing the Worldcoin team of price manipulation and misleading, resulting in unexpected victims. The account said that the team repeatedly affected the daily price trend of tokens by changing emissions, market maker contracts, and timely announcements before unlocking, and suspected that someone within the team used insider information to buy in before the news was announced.
Crypto investigator ZachXBT also weighed in, saying that venture capitalists and team members involved in “the biggest scam token of the bull market” should be ashamed, accusing the project of allowing insiders to continue to profit from the scam.
