Worldcoin (WLD) Faces Backlash Amid Price Manipulation Allegations, Sparking Controversy

Worldcoin ($WLD) crypto project team aims to create a universal digital ID using biometric data to fight global inequality and poverty.

Worldcoin ($WLD) is facing severe backlash amid allegations of price manipulation, sparking controversy and debate within the crypto community. Popular crypto investigator ZachXBT has weighed in on the situation, implying that the Worldcoin team might indeed be culpable.

The Worldcoin crypto project team aims to create a universal digital ID using biometric data to fight global inequality and poverty. However, its token distribution plan, which relies on collecting people’s biometric information, has led to legal problems in many countries. Popular Artificial intelligence (AI) firm OpenAI CEO Sam Altman is the main leader of this crypto project.

Recently renowned crypto detective ZachXBT has slammed the Worldcoin crypto project, calling it the “biggest scam token of the bull run.”

ZachXBT targeted venture capitalists and team members supporting the $WLD token. ZachXBT's comments were in reaction to an analysis by crypto trader DeFi Squared, who accused the Worldcoin team of manipulating the token's price.

“Shame on all of the VCs and team members who are complicit in the biggest scam token of the bull run and did nothing to prevent it,” the investigator said in a post on August 15.

The DeFiSquared team dedicated a post to slamming the Worldcoin team for manipulating the value of $WLD, despite CEO Alex Blania's denials. They argued that the team's tokenomics design is to blame for the token's high valuation and that they have frequently influenced daily price movements by changing emissions.

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DeFiSquared also accused the Worldcoin team of manipulating WLD's daily price through market maker contracts and timed announcements.

They questioned why the team denies market control & also suggested that the recent announcement to extend the token unlock period for 80% of team-held tokens from three to five years was a tactic to manipulate the trade price of token.

$WLD price action

The current trade price of $WLD token is $2.36 and this price is 2.5% down over the last 24 hours period.

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