Argentine regulator launches security investigation into Worldcoin project

Argentina's Agency for Access to Public Information has launched an investigation into the security of the Worldcoin project

The investigation will scrutinize the processes and practices of collecting, storing, and using user's personal data

Argentina's Agency for Access to Public Information (AAIP) has launched an investigation into the processing of personal data by cryptocurrency project Worldcoin, the regulator said in a statement.

The investigation will scrutinize the processes and practices of collecting, storing, and using personal data. It also plans to take steps to address any issues identified and ensure the company's compliance with security and privacy standards, AAIP said in a statement.

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In late July, the French regulator questioned the legality of biometrics collection by the cryptocurrency project Worldcoin. The project collected data in the country, and because of this, the local Data Privacy Protection Service initiated an investigation.

The German regulator also launched an investigation into Worldcoin's activities regarding the collection of biometrics in 2022. BayLDA officials fear that the company is processing "sensitive data on a very large scale" with new technologies.

Worldcoin scans people's eyeballs with the Orb device, a reflective metal ball that records information about a person's iris in the form of a cryptographic code. Everyone who has been scanned will participate in periodic giveaways of WLD tokens; the project's creators position this as a form of universal basic income.