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Worldcoin ordered to stop operations in Hong Kong

Hong Kong has ordered the suspension of Worldcoin’s operations, citing serious privacy violations. The Office of the Privacy Commissioner for Personal Data (PCPD) issued the directive following an investigation into Worldcoin’s data collection practices, which were found to be non-compliant with local privacy laws.

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Hong Kong has ordered the suspension of Worldcoin’s operations, citing serious privacy violations. The Office of the Privacy Commissioner for Personal Data (PCPD) issued the directive following an investigation into Worldcoin’s data collection practices, which were found to be non-compliant with local privacy laws.

Worldcoin, a cryptocurrency project that aims to create a globally inclusive financial system by distributing free tokens, has faced scrutiny over its methods of obtaining biometric data. The project requires users to provide iris scans to verify their identities, raising significant privacy concerns.

According to the PCPD, Worldcoin’s data collection practices lack sufficient transparency and fail to obtain proper consent from users. “The collection of sensitive biometric data must adhere to stringent privacy standards, and Worldcoin has not demonstrated adequate compliance with these requirements,” stated a PCPD spokesperson.

The suspension order mandates Worldcoin to cease all data collection activities in Hong Kong immediately and to secure the biometric data already collected. The PCPD is also considering further enforcement actions, which could include fines or other penalties if the company fails to comply.

This move by Hong Kong authorities reflects the growing global scrutiny of data privacy practices in the cryptocurrency industry. Regulators worldwide are increasingly focusing on how companies handle personal and sensitive information, particularly in emerging tech sectors like digital currencies and blockchain.

Worldcoin has responded to the suspension by expressing its commitment to resolving the issues raised by the PCPD. “We are dedicated to working with Hong Kong regulators to address their concerns and ensure our data collection processes meet all legal and ethical standards,” a Worldcoin representative said.

The suspension in Hong Kong follows similar regulatory challenges faced by Worldcoin in other jurisdictions. The company is under pressure to enhance its privacy safeguards and transparency to align with global data protection standards.

In summary, Hong Kong has halted Worldcoin’s operations due to privacy violations, highlighting the increasing regulatory focus on data protection in the cryptocurrency sector. Worldcoin must now address these concerns to resume its activities in the region.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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