Proof of humanity protocol Worldcoin released its audit reports on July 28 as criticism of its data collection practices continues to mount. The new reports were conducted by security consulting firms Nethermind and Least Authority.
According to an accompanying announcement from Worldcoin, Nethermind found 26 security issues with the protocol, of which 24 were “identified as fixed” during the verification phase while one was mitigated and another was acknowledged.
Least Authority discovered three issues and made six suggestions, all of which “have been resolved or have planned resolutions,” the announcement stated.
Worldcoin first rose to prominence in 2021 when it announced that it would give away free tokens to any users who verify their humanness, which they could do by having their iris scanned by a device called an “Orb.” The project was co-founded by Sam Altman, the co-founder of AI developer OpenAI.
At the time, Altman and other team members argued that AI bots would become an increasing problem on the internet if people didn’t find a way to verify their humanness without giving up their privacy. According to the protocol’s documentation, The Orb produces a hash of the user’s iris scan but does not keep a copy of the iris scan.
Worldcoin initiated its public launch on July 25, after nearly two years of development and beta testing. But criticism of it erupted almost immediately. The United Kingdom’s Information Commissioner’s Office (ICO) reportedly said the government body was deciding whether to investigate the project for violating the country’s data protection laws. French data protection agency CNIL also questioned Worldcoin’s legality.
The crypto community was divided over the project’s launch, with some participants seeing it as the start of a dystopian future where privacy would be eliminated. In contrast, others saw it as a necessary step towards protecting humans against malicious AIs.
The new audit reports cover a wide variety of security topics, including resistance to DDoS attacks, case-specific implementation errors, key storage and proper management of encryption and signing of keys, data leaking and information integrity, and others. Some issues found were the result of dependencies on Semaphore and Ethereum, including “elliptic curve precompile support or Poseidon hash function configuration,” the announcement stated.
All issues except one were fixed, mitigated, or have planned fixes. The one security issue that was not fixed by the time of verification has a severity of “undetermined” and is listed as “acknowledged.”
The business secretary has told Sky News he would not bring a Chinese company into the “sensitive” steel sector again – after the government was forced to take control of British Steel.
Urgent legislation rushed through the House of Commons and House of Lords on Saturday gave ministers the power to instruct British Steel – owned by Chinese company Jingye – to keep the plant open.
The Steel Industry (Special Measures) Bill essentially allows the government to take control of British Steel “using force if necessary”, order materials for steelmaking and instruct that workers be paid. It also authorises a jail sentence of up to two years for anyone breaching this law.
Image: British Steel’s Scunthorpe plant. Pic: Reuters
Jonathan Reynolds told Sunday Morning With Trevor Phillips that he would not “personally bring a Chinese company into our steel sector” again, describing steel as a “sensitive area” in the UK.
The business secretary agreed there is now a high trust bar for Chinese companies to be involved in the UK economy.
He said: “I think steel is a very sensitive area. I don’t know… the Boris Johnson government when they did this, what exactly the situation was. But I think it’s a sensitive area.”
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Jingye stepped in with a deal to buy British Steel’s Scunthorpe plant out of insolvency in 2020, when Mr Johnson was prime minister.
But the company recently cancelled orders for supplies of raw materials needed to keep blast furnaces running at the site – the last in the UK capable of producing virgin steel.
This threw the future of the steel industry into question, and ultimately led to MPs and peers being recalled from parliamentary recess to take part in a rare Saturday sitting when negotiations with Jingye appeared to break down.
An emergency bill to save the plant became law later that day.
Public ownership currently ‘likely option’
It stops short of full nationalisation of British Steel, but Reynolds told Sky News that public ownership remains the “likely option” for the future.
He said: “Well that remains an option. And to be frank, as I said to parliament yesterday, it is perhaps at this stage the likely option.”
However, the minister said he believes there is “potential” for a commercial private sector partner.
He said: “That is my preference, but I feel we’ve got to find a bridge to that. The kind of investments required for the transition to new steel technology, whichever technology that is, it’s a lot of money, a lot of capital.”
Andrew Griffith, the shadow business secretary, said the government’s emergency bill amounts to a “botched nationalisation”.
He told Sky News the Conservatives supported the “least worst” option in the Commons on Saturday.
“There’s clearly still more work to do because the taxpayer is now picking up the bills for a business that is still owned by its Chinese owner,” the Tory frontbencher said.
“I hope the government will very quickly come back and clarify that situation.”
Anti-corruption authorities in Bangladesh have issued a warrant for the arrest of British Labour MP Tulip Siddiq.
Bangladesh’s Anti-Corruption Commission (ACC) sought the warrant over allegations Ms Siddiq received a 7,200sq ft plot of land in the country’s capital, Dhaka.
Ms Siddiq’s lawyers have told Sky News the allegations are “completely false”, adding there was “no basis at all for any charges to be made against her”.
They said there was “absolutely no truth” behind the allegations regarding the plot of land.
The MP resigned as a Treasury minister earlier this year following an investigation by the prime minister’s ethics adviser into her links to her aunt Sheikh Hasina’s regime, which was overthrown in Bangladesh last year.
Lawyers acting for Ms Siddiq wrote to the Bangladeshi Anti Corruption Commission (ACC) several weeks ago saying the allegations were “false and vexatious”.
The allegations surrounding Ms Siddiq are focused on links to her aunt Ms Hasina – who served as the prime minister of Bangladesh for 20 years.
She is accused of becoming an autocrat, with politically-motivated arrests and other abuses allegedly happening on her watch. Ms Hasina claims it is all a political witch hunt.
Image: Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters
Ms Siddiq’s lawyer said in a statement that she “has not been contacted by the ACC or any authorities in Bangladesh”.
“The ACC has made various allegations against Ms Siddiq through the media in the last few months,” they said.
“The allegations are completely false and have been dealt with in writing by Ms Siddiq’s lawyers. The ACC has not responded to Ms Siddiq or put any allegations to her directly or through her lawyers.
“Ms Siddiq knows nothing about a hearing in Dhaka relating to her and she has no knowledge of any arrest warrant that is said to have been issued.
“To be clear, there is no basis at all for any charges to be made against her, and there is absolutely no truth in any allegation that she received a plot of land in Dhaka through illegal means.
“She has never had a plot of land in Bangladesh, and she has never influenced any allocation of plots of land to her family members or anyone else.
“No evidence has been provided by the ACC to support this or any other allegation made against Ms Siddiq, and it is clear to us that the charges are politically motivated.”
Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, recently said that he expects a crypto market bill to be passed into law by August 2025.
The chairman also noted the Senate Banking Committee’s advancement of the GENIUS Act, a comprehensive stablecoin regulatory bill, in March 2025, as evidence that the committee prioritizes crypto policy. In a statement to Fox News, Scott said:
“We must innovate before we regulate — allowing innovation in the digital asset space to happen here at home is critical to American economic dominance across the globe.”
Scott’s timeline for a crypto market structure bill lines up with expectations from Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, of market structure and stablecoin legislation being passed into law by August.
Support for comprehensive crypto regulations is bipartisan
US lawmakers and officials expect clear crypto policies to be established and signed into law sometime in 2025 with bipartisan support from Congress.
Speaking at the Digital Assets Summit in New York City, on March 18, Democrat Representative Ro Khanna said he expects both the market structure and stablecoin bills to pass this year.
The Democrat lawmaker added that there are about 70-80 other representatives in the party who understand the importance of passing clear digital asset regulations in the United States.
Treasury Secretary Scott Bessent, pictured left, President Donald Trump in the center, and crypto czar David Sacks, pictured right, at the White House Crypto Summit. Source: The White House
Khanna emphasized that fellow Democrats support dollar-pegged stablecoins due to the role of dollar tokens in expanding demand for the US dollar worldwide through the internet.
Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, also spoke at the conference and predicted that stablecoin legislation would be passed into law within 60 days.
Hines highlighted that establishing US dominance in the digital asset space is a goal with widespread bipartisan support in Washington DC.