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China Warns Eye-Scan Crypto Projects Threaten Security
The post China Warns Eye-Scan Crypto Projects Threaten Security appeared on BitcoinEthereumNews.com. Key Notes China believes that eye-scanning crypto projects could threaten national security. The country’s security agency disclosed that they invade users’ privacy. Although not listed, it is believed that China is speaking about a crypto project that asked users to submit their iris data for crypto. China’s top security agency has issued a serious warning about cryptocurrency companies that collect biometric data, such as iris scans. According to the Ministry of State Security (MSS), these projects may not only invade users’ privacy but could also be used for foreign intelligence gathering, making them a potential threat to national security. Rising Concerns Over Biometric Data in Crypto Projects In a public notice released on August 6, the MSS expressed growing concern over the rise of advanced biometric technologies being used in crypto-related ventures. These include tools that scan and store facial images, fingerprints, and eye patterns. While such technologies are often promoted as innovative or secure, Chinese officials are urging the public to be cautious, especially when the technology is being used under the pretense of distributing cryptocurrency. The agency referred to one unnamed foreign company that collected iris scans from users worldwide in exchange for cryptocurrency. The collected data was then reportedly transferred to unknown locations. Chinese authorities say this kind of activity puts people’s personal information at serious risk and could even be exploited by foreign powers for surveillance or espionage. Worldcoin and Global Biometric Data Risks Although the company was not named directly, the details seem to be in line with the operations of Worldcoin WLD $0.93 24h volatility: 2.9% Market cap: $1.72 B Vol. 24h: $143.81 M , a project co-founded by OpenAI CEO Sam Altman. Worldcoin requires users to scan their irises in order to receive its digital currency, the WLD token. The project recently hit…
The post China Warns Eye-Scan Crypto Projects Threaten Security appeared on BitcoinEthereumNews.com.
Key Notes China believes that eye-scanning crypto projects could threaten national security. The country’s security agency disclosed that they invade users’ privacy. Although not listed, it is believed that China is speaking about a crypto project that asked users to submit their iris data for crypto. China’s top security agency has issued a serious warning about cryptocurrency companies that collect biometric data, such as iris scans. According to the Ministry of State Security (MSS), these projects may not only invade users’ privacy but could also be used for foreign intelligence gathering, making them a potential threat to national security. Rising Concerns Over Biometric Data in Crypto Projects In a public notice released on August 6, the MSS expressed growing concern over the rise of advanced biometric technologies being used in crypto-related ventures. These include tools that scan and store facial images, fingerprints, and eye patterns. While such technologies are often promoted as innovative or secure, Chinese officials are urging the public to be cautious, especially when the technology is being used under the pretense of distributing cryptocurrency. The agency referred to one unnamed foreign company that collected iris scans from users worldwide in exchange for cryptocurrency. The collected data was then reportedly transferred to unknown locations. Chinese authorities say this kind of activity puts people’s personal information at serious risk and could even be exploited by foreign powers for surveillance or espionage. Worldcoin and Global Biometric Data Risks Although the company was not named directly, the details seem to be in line with the operations of Worldcoin WLD $0.93 24h volatility: 2.9% Market cap: $1.72 B Vol. 24h: $143.81 M , a project co-founded by OpenAI CEO Sam Altman. Worldcoin requires users to scan their irises in order to receive its digital currency, the WLD token. The project recently hit…
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