iris – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 07 Aug 2025 05:26:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 iris – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Crypto Iris Scans Raise Red Flags, Says China’s Ministry of State Security https://earlybirdsinvest.com/crypto-iris-scans-raise-red-flags-says-chinas-ministry-of-state-security/ https://earlybirdsinvest.com/crypto-iris-scans-raise-red-flags-says-chinas-ministry-of-state-security/#respond Thu, 07 Aug 2025 05:26:16 +0000 https://earlybirdsinvest.com/crypto-iris-scans-raise-red-flags-says-chinas-ministry-of-state-security/

China’s Ministry of State Security (MSS) has warned that some cryptocurrency projects are using biometric tools, such as iris and facial scans, to collect sensitive personal information through token giveaways.

In a public notice released on August 6, the agency said these actions could harm individual privacy and pose a risk to national security.

The MSS pointed to a foreign company that had gathered iris data from people around the world while claiming to distribute crypto assets. According to the bulletin, this data was later transferred to another location.

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Although the company was not named, the description closely resembles Worldcoin, a project led by OpenAI co-founder Sam Altman, which trades its WLD
WLD


$0.9597

token for eye scans and operates in over 160 countries.

The ministry described iris scanning as a precise method typically used in secure environments. Because iris patterns are stable and unique, they can serve as long-term digital identifiers. If stolen, these details cannot be changed like passwords or PIN codes.

The MSS also said poor handling or storage of face data could result in leaks, which might lead to identity theft, financial fraud, or even access to restricted areas. It also claimed that intelligence services in other countries had used fake facial data to carry out spying operations, including entering sensitive workplaces.

The agency advised people to ask questions before agreeing to any biometric scan and to understand how their data will be used and stored.

Meanwhile, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) recently warned about the growing use of crypto kiosks in scams. What did the agency say? Read the full story.

]]> https://earlybirdsinvest.com/crypto-iris-scans-raise-red-flags-says-chinas-ministry-of-state-security/feed/ 0 51905 China’s security alarm on iris scans puts spotlight on Worldcoin https://earlybirdsinvest.com/chinas-security-alarm-on-iris-scans-puts-spotlight-on-worldcoin/ https://earlybirdsinvest.com/chinas-security-alarm-on-iris-scans-puts-spotlight-on-worldcoin/#respond Wed, 06 Aug 2025 12:53:16 +0000 https://earlybirdsinvest.com/chinas-security-alarm-on-iris-scans-puts-spotlight-on-worldcoin/

China’s Ministry of State Security (MSS) has warned that a foreign crypto company is collecting iris scan data under the guise of token distribution, raising serious concerns about personal and national security.

In an Aug. 5 statement, the ministry revealed that the firm is gathering iris data from users worldwide and transmitting it to an overseas database. Authorities did not name the company, but they cautioned that the biometric information could be exploited if it fell into the wrong hands.

The MSS stressed that iris data, like other forms of biometric information, could be used for identity theft, fraud, and illegal surveillance once leaked.

Officials cited recent examples, including a foreign firm whose fingerprint payment system was compromised due to weak security controls. Hackers reportedly accessed sensitive user data by breaching the company’s internal systems.

According to the ministry, there is mounting evidence that foreign intelligence agencies have engaged in unauthorized collection of facial and biometric data. These actors allegedly falsify such data to access secure environments and conduct surveillance operations.

The MSS noted this represents a growing risk to China’s national security.

Considering this, the authorities stressed that Chinese law provides strict safeguards around biometric data, including facial and iris recognition technologies.

The MSS urged both citizens and organizations to comply with existing legal frameworks. It also encouraged the public to remain alert and report suspicious data collection activities.

Worldcoin suspected

While the Chinese ministry avoided directly naming the company, the description closely aligns with Worldcoin, which has now been rebranded as World.

The project scans users’ irises in return for WLD tokens, a practice already under investigation in multiple jurisdictions.

Over the past year, the Sam Altman-backed company has recorded significant growth by scanning the irises of more than 10 million people worldwide. At the same time, the firm has also expanded into countries like the United States and Malaysia.

However, its operations have triggered regulatory scrutiny in Colombia, Germany, Hong Kong, South Korea, and Indonesia.

Authorities in those regions have raised red flags over data protection violations, non-compliance with privacy laws, and a lack of transparency.

Meanwhile, Worldcoin has continued to stress its commitment to legal compliance, hashed data, and the high standards of its users’ privacy protection.

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