Worldcoin involved bribing Thai officials and market-making manipulation of the WLD coin price! The token plunges 95% from its high

According to an exclusive report by Business Insider, Worldcoin operator Tools for Humanity (TFH), co-founded by OpenAI CEO Sam Altman, secretly hired two top law firms last year to investigate internal financial misconduct and suspected violations of the Foreign Corrupt Practices Act (FCPA) in Thailand. The investigation also revealed explosive allegations that TFH executives authorized massive payments to manipulate the price of the WLD token, risking violations of U.S. SEC regulations.
(Previous context: Sam Altman's World developer (formerly Worldcoin) lays off staff! Orb iris scanning banned in 6 countries)
(Background supplement: Worldcoin announces that daily unlock volume will be slashed by 43% starting July 24, $WLD , and the world coin jumps 3%)

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• Collusion with fraudsters and financial abuse, dual-track investigations launched
• Heavy spending to manipulate WLD price? Token has already plummeted 95%
• Official cuts ties in a hurry, facing global bans and layoffs

Tools for Humanity (TFH, operator of Worldcoin), a crypto startup co-founded by OpenAI CEO Sam Altman that promotes "eye scanning" to verify human identity, is now embroiled in a severe compliance and governance storm. According to an exclusive report by Business Insider on June 22, 2026, TFH secretly hired two law firms last year to conduct in-depth investigations into internal financial misconduct and overseas business compliance concerns in Thailand.

Collusion with fraudsters and financial abuse, dual-track investigations launched

The report states that the first investigation, led by law firm Sidley Austin, focused on whether TFH's Thai business violated the U.S. Foreign Corrupt Practices Act (FCPA). The investigation found that TFH's Thai business partner had ties to South African businessman Benjamin Mauerberger (Ben Smith), who was involved in cross-border "pig butchering" online scams, had assets seized by Thai courts, and had an arrest warrant issued against him.

The second investigation, conducted by law firm O'Melveny & Myers and audit firm BDO, focused on TFH's internal financial discipline. The investigation was triggered by a whistleblowing complaint from an employee, which included allegations that senior executives improperly used corporate credit cards for personal expenses and housing costs, and misclassified full-time employees as contractors to avoid related tax liabilities.

Heavy spending to manipulate WLD price? Token has already plummeted 95%

Even more concerning for the crypto market, the investigation also covered serious allegations of market manipulation. Internal accusations claim that TFH senior executives approved payments of "six to seven figures" to a foreign entity, specifically to inflate the value of the Worldcoin (WLD) token. If true, this would likely cross the U.S. Securities and Exchange Commission's (SEC) regulatory red line against market manipulation.

Ironically, despite the scandal of alleged market-making manipulation, the WLD token's current market performance remains dismal. According to statistics, WLD is currently priced at only about $0.61, a massive decline of approximately 95% from its all-time high in 2024, causing heavy losses for early employees and investors holding the token.

Official cuts ties in a hurry, facing global bans and layoffs

In response to these devastating accusations, a TFH spokesperson stated that after discovering the true identity and allegations against the Thai partner, the company "immediately cut ties and strengthened due diligence," and emphasized that "no facts currently prove that the company or its employees violated the FCPA." At least some of the investigation findings have been reported to the company's board of directors, including Sam Altman and CEO Alex Blania.

However, TFH's challenges are not limited to this. Besides facing privacy regulatory bans in Spain, India, and Indonesia, Thai authorities also suspended its local operations late last year due to biometric data collection issues. Coupled with a high-pressure corporate culture and an executive exodus, TFH, which has about 500 global employees, just conducted a wave of layoffs of nearly 15% in June. Under the dual pressure of regulatory and internal governance issues, this once-star unicorn, valued at up to $2.5 billion, is facing a severe survival test.