On-chain investigator ZachXBT has recently leveled insider trading allegations against the Worldcoin team, shedding light on questionable motives behind the latest token unlock. Based on thorough research, he found that people with inside knowledge could make a lot of money from this upcoming event.
ZachXBT Unveil the Disparity in Worldcoinâs Statements and Actions
ZachXBT unveiled a series of detailed analyses that paint a concerning picture of Worldcoinâs operations. His research indicates that key members of the Worldcoin team, along with other insiders, have orchestrated moves to capitalize on the token unlock, potentially at the expense of everyday investors.
Furthermore, DefiSquared, a prominent trader on Bybit, conducted a thorough analysis of Worldcoinâs tokenomics and market tactics. According to the trader, the digital currency project plans to initiate insider unlocks with only 2.7% of the supply in circulation. The report details how the team has carefully managed the price to sustain a fully diluted valuation (FDV) of $30 billion while falsely denying participation in price manipulation.
The research highlights a notable difference between Worldcoinâs public declarations and actions. Despite the teamâs assertion of limited influence over the tokenâs value, their choices regarding market maker agreements, emissions, and tokenomics indicate otherwise. This controversy prompts inquiries about Worldcoinâs openness and the genuine motive behind its low circulating supply.
As the investigation continues, the cryptocurrency community watches closely, awaiting further developments that could have far-reaching implications for Worldcoin and the overall market.
South Koreaâs PIPC Launches Investigation Into Worldcoin
Recall that in March, South Koreaâs Personal Information Protection Commission (PIPC) initiated a formal investigation into Worldcoin following a flurry of complaints regarding the projectâs collection of personal data.
As per the report, the focus of concern revolved around Worldcoinâs practice of scanning individual irises in exchange for cryptocurrency, raising privacy apprehensions. Notably, the PIPCâs decision to launch a probe underscores the growing importance of safeguarding personal information in the digital age.
As the investigation unfolds, it will undoubtedly shape the discourse surrounding data privacy and the responsible deployment of emerging technologies in the global landscape.
ZachXBTâs Influence in the Crypto Space
Over the years, ZachXBT has dedicated time and expertise to uncovering fraudulent activities, identifying scams, and shedding light on suspicious transactions. His work helps protect investors, prevent illicit activities, and foster a more transparent and trustworthy environment for participants in the crypto industry.
Last year, ZachXBT assisted in investigations that helped in the convictions of two people associated with the Platypus hack. As such, the crypto community has demonstrated its unwavering support for the blockchain investigator, as several prominent industry executives stepped forward to donate and express their admiration for his work.
Changpeng Zhao, former CEO of Binance, publicly praised ZachXBT, accompanying the endorsement with a pledge of $50,000 from the exchange.
The post ZachXBT Revealed Worldcoin Insider Trading Allegations Amid Token Unlock appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.
