In a video posted to YouTube on Aug. 23, Nadir Hajarabi, who described himself as having worked with Worldcoin since before its token launch, publicly announced that he had cut all ties with the project.
Hajarabi did not divulge specifics on the advice of legal counsel. However, he revealed that he left Worldcoin due to several concerning factors he had witnessed and made the final decision to leave after the release of the project’s token (WLD) and whitepaper.
‘Horrendous execution’
Although describing himself as an ardent believer in the startup’s vision of providing a universal basic income, Hajarabi characterizes the organization’s efforts as a “horrendous execution that deserves whatever will come next,” underscoring the murky waters that the project continues to navigate.
In his video statement, Hajarabi highlighted his reservations about the organization’s questionable processes from the beginning of his tenure. be stated that he continued to associate with Worldcoin, giving it “the benefit of the doubt.” However, he states his concerns escalated with the release of the token’s whitepaper, which, according to him, solidified his judgment to disassociate from the company. He did not elaborate on specific details on the advice of counsel.
Meanwhile, the Worldcoin project is under an increasingly harsh spotlight, facing regulatory scrutiny from multiple jurisdictions, including France, Germany, and Kenya. Kenyan authorities raided a Worldcoin warehouse in Nairobi under a search warrant, suspending the startup’s operations due to data privacy concerns.
Despite the project’s reassurances that it does not store the data once the orbs generate a unique iris code, regulators and privacy advocates remain wary. The Kenyan Capital Markets Authority highlighted that Worldcoin is not regulated in the country and expressed concern about individuals registering their data with the unregulated entity. However, Worldcoin has affirmed its cooperation with the government and intends to resume operations after implementing “crowd-control measures.”
In the midst of these tumultuous developments, Worldcoin has seen a nearly twofold increase in demand for its “global ID” and tokens since its launch. Hajarabi’s criticisms, coupled with ongoing international investigations, underscore the complexity and potential risks involved in the project.
Hajarabi closed by urging potential users to exercise heightened scrutiny when evaluating Worldcoin’s terms and conditions.
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