Key Takeaways
- ZachXBT slams Worldcoin as a predatory scam that uses low-float token tactics and insider selling to target vulnerable users.
- Worldcoin hit with bans in Kenya, Spain & more over iris-scan privacy fears; $WLD token crashed over 97% from highs.
- Elon Musk’s long rivalry with Sam Altman escalates as he brands him “Scam Altman,” linking OpenAI and Worldcoin issues.
Sam Altman is facing renewed scrutiny as Worldcoin comes under fire from both crypto investigator ZachXBT and Tesla CEO Elon Musk.
Altman, who leads OpenAI and co-founded Worldcoin, promoted the project as a breakthrough in digital identity.
But renewed criticism has put the token’s model and its data practices back in the spotlight, as well as Altman’s past track record.
ZachXBT Calls Out Altman and WorldCoin
On Apr. 28, ZachXBT jumped into the conversation under a post by Elon Musk, labeling the OpenAI founder as “Scam Altman.”
In a widely circulated post, ZachXBT didn’t hold back: he described Worldcoin’s WLD token as launching with a “predatory low float” structure reminiscent of Sam Bankman-Fried’s FTX tactics.
According to ZachXBT, the project targeted people in low-income countries, offering small amounts of WLD in exchange for iris scans.
Instead, he argued, it created a black market for verified World IDs, with accounts trading for as little as $5–$15.
He also pointed to unsustainable token inflation and regular over-the-counter (OTC) sales by insiders, calling the whole setup exploitative.
ZachXBT had made similar claims earlier, in July 2024, labeling WLD “the biggest scam token of the bull run” and accusing the team and its venture-capital backers of complicity in price manipulation and misleading marketing.
ZachXBT framed World as Altman’s “other company” which he says deserves the same scrutiny as OpenAI amid Musk’s ongoing lawsuit.
Worldcoin’s Criticism, Regulatory Bans, and Token Price Crash
World’s troubles didn’t start in 2026.
From its 2023 launch, the project faced backlash for its iris-scanning “orbs” that promised digital identity in return for crypto.
Critics called the model dystopian and exploitative, especially in emerging markets where users were reportedly recruited with incomplete explanations.
Reports also highlighted giveaways such as AirPods to boost sign-ups, often with young or low-income participants.
Regulatory heat followed quickly.
Kenya became the first country to ban operations in August 2023 due to data security concerns, swiftly followed by a temporary ban by Spain in March 2024.
Portugal, Germany, Hong Kong, Brazil, Indonesia, Thailand, and others followed suit with investigations and orders to delete collected biometric data.
Beyond the regularity crackdown, World’s token has also not been spared.
WLD hit an all-time high near $11.82 in March 2024 but has since plummeted more than 97% to trade around $0.25–$0.26, flirting with all-time lows as recently as April 2026.
Heavy unlocks, high inflation rates, and reported insider OTC sales have compounded selling pressure, leaving many holders underwater and amplifying ZachXBT’s warnings about the “predatory” design.
The Long-Standing Rivalry Between Elon Musk and Sam Altman
Elon Musk’s recent jab at Altman is the latest in a long-running feud between the two tech giants.
The two co-founded OpenAI in 2015 as a nonprofit focused on safe AI for humanity’s benefit. However, Musk departed in 2018 after clashes over direction and control.
He has since accused Altman of betraying that original mission by turning OpenAI into a for-profit powerhouse backed by Microsoft — allegations at the heart of Musk’s 2024 lawsuit, now headed to trial in 2026.
Musk’s rhetoric has been blunt and consistent.
He’s repeatedly called Altman “Scam Altman,” accused him of habitual lying, and amplified investigative reporting questioning Altman’s integrity.
Altman, for his part, once described Musk as a “jerk” and has pushed back on claims that OpenAI abandoned its nonprofit roots.
What started as a shared vision for AI has now devolved into one of tech’s most bitter and public feuds.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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