Tools For Humanity Faces Internal Probes Last Year Over Fund Misuse to Boost Worldcoin, Thai Partner Suspected Scammer

According to Business Insider citing sources familiar with the matter, Tools For Humanity launched two external legal investigations last year into allegations that company executives misappropriated funds to artificially inflate Worldcoin's price and engaged in regulatory violations in Thailand. The company approved payments of millions of dollars to a foreign entity for the purpose of price manipulation rather than legitimate business services.

Additionally, Tools For Humanity's Thai business partner was reportedly an internationally wanted fraud suspect. The revelations come as global regulators intensify scrutiny of the company's iris-scanning technology and data collection practices.