The Personal Information Protection Commission (PIPC) in South Korea has fined WorldCoin 1.14 billion KRW for violating personal data protection laws. WorldCoin Foundation and Tools for Humanity (TFH) were found to have illegally collected and transferred iris data of Korean users overseas.

WorldCoin, an iris recognition-based cryptocurrency, has about 30,000 users in South Korea who completed iris authentication. The company failed to properly notify users about data collection, obtain consent for processing sensitive information, and inform about overseas data transfers.

The PIPC imposed fines of 725 million KRW on WorldCoin Foundation and 379 million KRW on TFH. They also recommended implementing separate consent processes for sensitive data, providing data deletion options, and introducing age verification for minors.

WorldCoin stated they respect the PIPC's decision and will continue efforts to protect personal information. This case sets a significant precedent for handling biometric data in cryptocurrency and similar services, highlighting the strict regulatory oversight in this area.

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