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Worldcoin's iris-scanning crypto project fined for privacy violations in South Korea (Update*)

By Jenny Lee ( September 26, 2024, 05:29 GMT | Insight) -- Worldcoin and Tools for Humanity have been slapped with a combined fine of 1.1 billion won (about $828,000) and issued corrective orders by the South Korean watchdog for violating the country's privacy regulations. The action follows an investigation which uncovered that Worldcoin and TFH, the latter tasked with processing personal data for Worldcoin, had gathered sensitive biometric information from South Korean users without proper legal grounds and subsequently transferred the data across borders. Worldcoin and Tools for Humanity, or TFH, have been slapped with a combined fine of 1.1 billion won (about $828,000) and issued corrective orders by the South Korean watchdog for violating the country's privacy regulations....

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