Trail of Bits has conducted an independent audit of Worldcoin’s decentralized protocol for personal identification. The audit began on August 14, 2023, with the Trail of Bits team testing the software and device known as Orb, which is designed to scan the user’s iris. Over the course of six weeks, experts carefully examined the code for any potential vulnerabilities.
During the audit, the team simulated various attacks to determine if hackers could access users’ data. Ultimately, the auditors concluded that the device code is secure and does not contain any vulnerabilities. They also discovered that potential attackers are unable to extract iris data from Orb’s network traffic unless they can control one of the trusted certificates.
Following the publication of the audit report, the native token of the Worldcoin project, WLD, experienced a 4% increase in value, rising from $9.50 to $9.90. However, this growth was short-lived, and the token’s price soon fell back to $9.60, according to CoinMarketCap data. Currently, the asset is trading 20% below its historical high of $11.82 on March 10.
Concerns about security issues related to Worldcoin have been circulating for months. In March, Spain’s data protection agency (AEPD) demanded that Worldcoin cease collecting personal information and only use data that had already been collected. Since its launch in July 2023, the project has been under investigation in countries such as Germany, France, the U.K., and Kenya.
Furthermore, in January, the Hong Kong regulator conducted a search of the company’s offices, and in early March, South Korea initiated an investigation into a startup that collects biometric data. Despite these regulatory challenges, Worldcoin continues to surge in popularity.