ChainCatcher news, according to ZDNet Korea, the Personal Information Protection Commission (PIPC) of South Korea has fined the Worldcoin Foundation and Tools for Humanity (TFH) for violating personal data protection laws.The Worldcoin Foundation was fined 725 million won (approximately $546,000) for improperly handling sensitive information and transferring it abroad. Tools for Humanity (TFH) was fined 379 million won (approximately $285,000) for violating local regulations regarding the outbound transfer of personal data.The investigation began in February, triggered by complaints and reports that Worldcoin collected biometric data without permission to provide cryptocurrency services.

ChainCatcher news, Worldcoin co-founder and CEO of Tools for Humanity Alex Blania stated during a collective interview at this week's Korea Blockchain Week event that Worldcoin's current focus is on promoting Orbs globally.Blania said: "I think fundamentally, like other networks we've seen over the past few decades (such as Paypal, or even social networks like Facebook), they only become useful after scaling. Therefore, what we are currently concerned about is global distribution and the number of users who have verified and used the service."

ChainCatcher news, Worldcoin's main developer Tools for Humanity has acquired the Solana-based on-chain wallet startup Ottr Finance. After the acquisition, Ottr Finance will shut down its Solana-based on-chain wallet and will be integrated into Tools for Humanity to help Worldcoin attract new users.The Ottr Finance wallet previously launched features such as "seamless integration with U.S. bank accounts, gasless transfers and transactions, and password-free cloud backup," and the integration with U.S. banks may help Tools for Humanity in the future.The Ottr team stated, "As the team integrates into Tools for Humanity, Ottr users can export their wallet recovery phrases and private keys within three months to transition to any other Solana-compatible wallet."

According to ChainCatcher, citing sources familiar with the matter, Worldcoin's main developer Tools For Humanity plans to raise up to $50 million by selling discounted WLD tokens. San Francisco investment bank FT Partners is assisting with this financing. Two people familiar with the process indicated that the price of WLD could be $1 per token, which is a significant discount from the current spot price of $2.50. Another source emphasized that no terms have been finalized yet.Additionally, another insider stated that demand from potential investors has been strong since the token's launch, and the standard terms set will apply to any further investments in WLD.

ChainCatcher news, according to a report by TechCrunch, a letter sent to Worldcoin's parent company Tools for Humanity shows that the Office of the Data Protection Commissioner (ODPC) in Kenya ordered it to stop conducting iris scans as well as facial recognition and other personal data collection in May. The letter indicates that the agency failed to inform individuals about the data security and privacy measures taken, as well as how the collected data would be used or processed.