South Korea fined the Worldcoin Foundation $829,000 for privacy law infractions
Violating data privacy rules, South Korea’s Personal Information Protection Commission (PIPC) penalized the Worldcoin Foundation and its partner, Tools for Humanity (TFH), 1.1 billion Korean won ($829,000). The punishment was imposed after an inquiry into how sensitive biometric data—including iris scans—from South Korean consumers was handled by the corporation.
Beginning in February, the probe turned out that Worldcoin gathered biometric data from about 30,000 South Koreans without following legal guidelines for handling such private information. All of which are required under South Korean legislation, users were not correctly notified about why their data was being gathered, how long it would be held, or that it would be sent outside.
Apart from the penalties, the PIPC issued remedial measures and advised changes like the tougher data deletion policies and age verification methods to stop children under the age of fourteen from enrolling.
Worldcoin’s native token, WLD, had a 35% increase despite these legal obstacles from $1.60 to $2.16 between September 19 and September 26. Despite the company’s continuous legal and regulatory problems, this price raise demonstrates persistent investor interest.
Worldcoin has admitted the regulator’s conclusions and said they are dedicated to changing their methods and following privacy rules going ahead. As it grows internationally, the firm has to guarantee careful use of user data to avoid more penalties and preserve customer confidence.
