Worldcoin WLD/USD dropped 9% on Wednesday amid data privacy concerns on its Orbs, leading to an investigation by Hong Kong authorities.

What Happened: Worldcoin’s six premises have come under the scrutiny of Hong Kong’s privacy watchdog, over suspicions of allegedly breaking the law while scanning people’s irises in exchange for WLD tokens. Hong Kong’s Office of the Privacy Commissioner for Personal Data accuses Worldcoin of mishandling biometric data. The investigation into these allegations has commenced.

The agency has warned the public against sharing biometric data with the company due to serious risks to personal data privacy. The Worldcoin on its website says, “As a…

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