Nadir Hajarabi, a former member of Worldcoin staff who claims to have been involved since before its token launch, took to YouTube earlier this week to announce that he has severed ties with Worldcoin — “mostly because of the token [WLD], and the whitepaper that came with it.”
Refraining from specific details at the advice of legal counsel, Hajarabi said that various concerning factors, red flags he’s seen “from the get-go” within the organization led to his decision to leave.
While Hajarabi expressed his initial support for Worldcoin’s vision of universal basic income, he labeled the execution of the project as “horrendous” and criticized the organization’s efforts, highlighting his escalating concerns over time.
“I wasn’t sure if the sloppy, and/or illegal things that I witnessed were a result of malicious intent or if they were the result of things being done in a ‘startup-y way,’” Hajarabi said in the video, referring to why he didn’t leave right away.
These reservations intensified with the unveiling of the token’s whitepaper, which he stated further confirmed his decision to disassociate himself from the company.
Despite not delving into specifics due to legal advice, Hajarabi’s claims raise significant questions about the project’s internal workings. He ended the video with a warning to potential users to “thoroughly read” Worldcoin’s terms and conditions before signing anything.
Not much is known about Hajarabi’s work and background, or his alleged tenure at Worldcoin. His LinkedIn profile shows that he is currently a Genesis Offering Director at iris Token, and President of a Paris-based marketing company called Studio 66.
The world against Worldcoin
In an increasingly global spotlight, Worldcoin is grappling with regulatory scrutiny across several jurisdictions, including France, Germany, and Kenya.
Kenyan authorities recently conducted a raid on a Worldcoin warehouse in Nairobi, suspending the project’s operations due to data privacy apprehensions. Despite the startup’s assurances that data is not retained post-generation of unique iris codes, privacy advocates and regulators remain skeptical.
The Kenyan Capital Markets Authority, pointing out that Worldcoin lacks regulation within the country, expressed unease about individuals sharing their data with an unregulated entity. Nevertheless, Worldcoin has pledged cooperation with the government and plans to resume operations following the implementation of “crowd-control measures.”
As of this writing, Worldcoin co-founder Sam Altman, also currently the CEO of OpenAI, has not responded to Hajarabi’s statements.
Information for this story was found via X/Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
