- Worldcoin delays token unlock schedule, extends over five years
- Prices soar by 68% following the announcement, raising suspicions
- Allegations of insider trading and manipulation surface, sparking community backlash
The cryptocurrency project Worldcoin has recently come under scrutiny after making significant changes to the schedule for unlocking its native tokens. The organization, Tools for Humanity (TFH), announced on July 16 that the unlock period for 80% of the Worldcoin (WLD) tokens, originally set over three years, would now extend to more than five years, concluding in July 2028. This move aims to release fewer tokens into the market initially, potentially stabilizing prices by limiting supply.
Sudden Price Surge Raises Eyebrows
Just a day after this announcement, the price of Worldcoin surged by 68%, jumping from $1.90 to $3.20 within two days, before slightly correcting to $3.11. This rapid increase has led to suspicions and allegations of price manipulation from various quarters of the crypto community.
Decentralized finance insights platform DeFi Squared expressed concerns on X, suggesting that Worldcoin’s team might be influencing token prices through strategic announcements and adjustments to market operations. There were also hints that insiders might have engaged in front-running, buying up tokens based on non-public information prior to the unlock schedule update.
Community and Expert Reactions
The controversy intensified with comments from noted blockchain investigator ZachXBT, who criticized the actions of venture capitalists and team members associated with Worldcoin. ZachXBT accused them of complicity in what he referred to as “the biggest scam token of the bull run,” stating that these insiders continued to profit from manipulative practices at the expense of ordinary investors.
The allegations have ignited a fierce debate within the cryptocurrency community, with many calling for greater transparency and ethical conduct from projects like Worldcoin.
