Worldcoin under scrutiny: $8.85M in WLD moves off Binance

A major movement of Worldcoin (WLD) tokens has drawn the attention of regulators worldwide, as privacy and data protection debates intensify.

A new wallet address withdrew 9.32 million WLD tokens from Binance, valued at around $8.85 million. The transfer highlights increased activity from large-scale holders and comes as regulators heighten scrutiny of Worldcoin’s biometric data collection. China’s Ministry of State Security (MSS) recently warned that iris scans used by the project could endanger both personal privacy and national security if misused.

Worldcoin, developed by Tools for Humanity, has been suspended in several regions, including Indonesia earlier this year. The MSS’s warning, though not naming the project directly, mirrors Worldcoin’s iris-based identity verification model. Authorities in the EU and Kenya have also launched investigations into the handling of biometric data, citing GDPR compliance and user safety concerns.

The WLD token price rose 1.5% in the past 24 hours, trading at about $0.94 per token, with a market capitalization of around $1.84 billion. Despite this short-term gain, WLD remains down nearly 12% over the past month. Meanwhile, Binance reported a 10% increase in institutional trading volume in the first half of 2025, showing that large players remain active despite regulatory headwinds.

Supporters argue that iris scans can solve online identity verification issues, reducing fraud and bots in decentralized systems. Critics counter that even encrypted biometric data carries irreversible risks if leaked or misused.