Shock Claim About Worldcoin: Is It Really a Scam?
Worldcoin (WLD) has come under heavy fire from well-known crypto security analyst ZachXBT, who has called it the biggest bull run scam token. The analyst’s remarks followed a thorough study published on Wednesday by crypto analyst DefiSquared, which claimed that the project’s crew had engaged in extensive manipulation and immoral activities.
Remarkably, the research states that just 2.7% of WLD‘s 10 billion token supply is currently in circulation. Concerns about inflation and market manipulation have been raised by this strangely low ratio for significant venture-backed cryptocurrency projects.
- Additionally, incidents of the Worldcoin team using a price suppression algorithm to manipulate market conditions in favor of insiders were noted in the paper.
- Concerns over the openness and fairness of the initiative were exacerbated by the abrupt removal of this price control mechanism, which is said to have caused a large price jump.
Allegations of Price Manipulation of Worldcoin: Investor Confidence Shaken
The report also charged Worldcoin with deceptive tactics, such as publicly denying any role in price manipulation in spite of evidence to the contrary. This has raised questions about the moral standards of the project’s supporters in venture finance. A suspicion of insider trading was also voiced because of the shady price swings that preceded significant statements about Worldcoin‘s operational procedures.
Especially, these kinds of actions cast doubt on the honesty of the project’s investors’ oversight and administration. ZachXBT responded to the claims by sharply denouncing venture investors and members of the Worldcoin team, charging them with involvement in what he called the biggest token scam of the present bull market.
Shame on all of the VCs and team members who are complicit in the biggest scam token of the bull run and did nothing to prevent it,
ZachXBT
FAQ
Why Worldcoin Is Being Called a Scam?
A leading crypto security analyst has concluded that Worldcoin is a scam, arguing that it does not fulfill its promises and jeopardizes users’ security.
What are Crypto Security Analysts’ Concerns about Worldcoin?
Analysts cited Worldcoin’s lack of transparency, the insecurity of user data, and the uncertainty of the project’s financial structure as the main points of concern.
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