Worldcoin rejects insider trading and price manipulation accusations

Worldcoin rejects insider- Worldcoin responds to accusations of insider trading and price manipulation

Worldcoin rejects insider– Worldcoin, the human identity project, has vehemently denied recent allegations suggesting insiders profited from its token’s movements, emphasizing a ‘zero tolerance‘ policy towards such activities.

On July 17, DeFi insights account DeFi Squared published a post accusing Worldcoin of manipulating the price of its token, WLD, and hinted that insiders may have used privileged information to trade before a scheduled token unlock delay announcement.

In addition to DeFi Squared, pseudonymous crypto investigator ZachXBT also criticized Worldcoin, alleging that insiders, including team members and venture capitalists, were involved in what he labeled as ‘the biggest scam token of the bull run.’

Worldcoin Denies Insider Trading Allegations Amid Scrutiny

A spokesperson from Worldcoin has denied recent allegations of insider trading and price manipulation involving its token, WLD. Speaking to Cointelegraph, the spokesperson stated that Worldcoin takes any accusation of insider trading seriously, even if unfounded, and maintains a zero-tolerance policy for such conduct.

The spokesperson emphasized that neither the Worldcoin Foundation nor Tools for Humanity, its contributor, has found any evidence supporting the claims of insider trading or price manipulation. They asserted that strict market integrity policies are in place to prevent such activities.

Regarding confidentiality, the spokesperson clarified that individuals covered by their policies are strictly prohibited from disclosing confidential information related to WLD purchasing decisions. They also mentioned that during relevant periods, a blackout period was enforced, prohibiting any trading activities involving WLD.

Worldcoin’s response comes amidst scrutiny following accusations from DeFi Squared and pseudonymous investigator ZachXBT, who alleged that insiders had profited from what they described as questionable practices involving the token.

Worldcoin Faces Allegations Amid Delay in Token Unlocking

The recent allegations against Worldcoin coincide with its decision to postpone the unlocking of 80% of its WLD supply by two years. On July 16, Tools for Humanity announced an extension of the token unlock period for team members and investors.

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