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COINTURK NEWS > Cryptocurrency Security > Security Vulnerability Shock in Highly Discussed Altcoin Project
Cryptocurrency Security

Security Vulnerability Shock in Highly Discussed Altcoin Project

In Brief

  • Blockchain-focused security company CertiK has revealed a serious security vulnerability in the Worldcoin (WLD) project, which has sparked debates on X (formerly known as Twitter). As known, Worldcoin pays individuals by sending scans of their irises through a device called Orb, which is part of the World ID ecosystem, and these Orbs are used by […]
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COINTURK NEWS 2 years ago
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Blockchain-focused security company CertiK has revealed a serious security vulnerability in the Worldcoin (WLD) project, which has sparked debates on X (formerly known as Twitter). As known, Worldcoin pays individuals by sending scans of their irises through a device called Orb, which is part of the World ID ecosystem, and these Orbs are used by authorized individuals for identity verification.

Contents
Confirmed Security Vulnerability FixedAccording to Observers, the Project Failed to Find Expected Support

Confirmed Security Vulnerability Fixed

According to CertiK, the security vulnerability in the review process for Orb operators allows an attacker to bypass the identity verification process and operate an Orb without going through the process or having a valid identity. CertiK also added that the security vulnerability was reported to the Worldcoin security team and has been fixed. Although it has been fixed, the discovery of such a security vulnerability may lead to increased discussions surrounding the project’s privacy and data usage worldwide.

A spokesperson for Worldcoin, speaking to Cointelegraph, stated, “CertiK is not the official auditor of Worldcoin, and we thank them for their contributions.” The spokesperson mentioned that the vulnerability could allow an attacker to create an inactive Orb operator account, but emphasized that no one was allowed to bypass manual review to create an Orb operator account and that there was no access to Orbs or data through the vulnerability. The spokesperson also added that the Worldcoin security team confirmed, fixed, and ensured that the issue was not exploited within 24 hours of receiving information from CertiK.

Critics argue that the project initiated by Sam Altman, the founder and CEO of viral AI chatbot OpenAI, aiming to filter bots and support the World App wallet, is ethically questionable and contains a “dystopian nightmare.” The fact that the project is not open source is a major concern, and regulators are also investigating the project with suspicion.

According to Observers, the Project Failed to Find Expected Support

The project, whose success depends on mass adoption, has attracted millions of people worldwide who are eagerly waiting to sell their iris data for approximately $50. Observers note that the project has not found the expected support, but the momentum of interest has not diminished.

The project claimed to attract 400,000 new users per week in mid-July, and according to the project’s website, this number has exceeded 545,000, reaching a total of over 2.1 million. In the past seven days, an average of over 193,000 wallet transactions were recorded daily. According to the information on the website, there were 366 active Orbs last week, and 2,000 units were produced from them.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 5 August, 2023 - 9:40 am 5 August, 2023 - 9:40 am
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2 Comments
  • Asif says:
    5 August, 2023 - 9:59 am at 9:59 am

    Very nice

    Reply
  • Asif Rehman says:
    5 August, 2023 - 10:03 am at 10:03 am

    Very very nice

    Reply

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