Worldcoin Slammed for Alleged Price Manipulation: Experts Call WLD the "Biggest Scam Token"

Worldcoin is under fire from crypto experts who accuse the project of manipulating its token price, labeling it the "biggest scam token of the bull run."

Since its launch, Worldcoin has faced numerous controversies while claiming to address major AI challenges. Onchain investigator ZachXBT has accused Worldcoin of being a "scam project," revealing that the team manipulated the WLD price. He called out prominent venture capitalists and team members, including Coinbase's Nick Tomaino, FTX's Sam Bankman-Fried, and 3AC, for enabling these fraudulent activities.

“Shame on all the VCs and team members complicit in this scam and doing nothing to prevent it,” ZachXBT wrote.

His critique is backed by a report from DefiSquared, a Bybit Exchange trader, which details price manipulation tactics within the Worldcoin ecosystem. The report reveals how the team maintained a $30 billion valuation while claiming no involvement in price control.

DefiSquared's research exposes Worldcoin's questionable tokenomics and market strategies. The team allegedly allocated most of its supply to market makers to stabilize prices, only to later allow a rapid 100% price increase. CEO Alex Bania denied any control over WLD price at Token2049 in Dubai.

The report also highlights Orb Operators collecting biometric data and moving large amounts of WLD to exchanges like Binance, suggesting insider trading. One operator reportedly transferred $150,000 worth of WLD to Binance every three days, coinciding with a price spike above $12 in March.

DefiSquared criticized this strategy as a ploy to lure retail investors. “Worldcoin timed positive news just before unlocks to drive prices up, creating liquidity for insiders to exit,” the analyst noted. There are suspicions of insider trading, with team members potentially buying ahead of news releases.

These revelations underscore the importance of thorough research before investing in any crypto project.
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