A Worldcoin spokesperson informed Cointelegraph that individuals covered by their policies are strictly prohibited from disclosing confidential information relevant to WLD purchasing decisions.
Worldcoin, a human identity project, has firmly denied recent allegations of insider trading and price manipulation, emphasizing its “zero tolerance” policy for such activities.
On July 17, the decentralized finance (DeFi) insights account DeFi Squared posted on social media, accusing Worldcoin of engaging in price manipulation. The account suggested that someone from the Worldcoin team might have used insider information to buy the token before the project announced a delay in its native token unlock schedule.
In addition to DeFi Squared, pseudonymous crypto investigator ZachXBT accused Worldcoin of allowing insiders to profit from what he described as a “scam token.” He claimed that team members and venture capitalists were complicit in what he called “the biggest scam token of the bull run.”
Worldcoin Denies Insider Trading Allegations
A Worldcoin spokesperson strongly refuted these allegations. They emphasized that the organization takes such claims seriously and would not tolerate any such activities. The spokesperson:
“The Worldcoin Foundation and contributor Tools for Humanity take any allegation of insider trading, even if unfounded and unsubstantiated, seriously and would have zero tolerance for such activity if it were to occur.”
The spokesperson further stated that both organizations have not found any evidence supporting the claims of insider trading or price manipulation. They asserted that Worldcoin upholds a strict market integrity policy to prevent such activities.
The spokesperson added that individuals covered by their policies are always prohibited from disclosing confidential information related to WLD purchasing decisions. During the relevant periods, those individuals were under an active blackout period, which prevented them from engaging in any WLD trading activities.
Summary Review: Worldcoin has faced serious accusations regarding insider trading and price manipulation, but the organization has denied all allegations and emphasized its strict policies to ensure market integrity. The company maintains that it has found no evidence of wrongdoing and continues to uphold rigorous standards to prevent any such activities.
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