The directive issued by the Cabinet Secretary to halt Worldcoin's activities sent shockwaves through the investor community, resulting in a drastic 70 per cent decline in the company's valuation. Investigations by the Office of the Data Protection Commissioner (ODPC) revealed Worldcoin's deliberate disregard for Kenya's directives to cease their iris scanning operations. Unless prompt measures are undertaken to counteract the company's plummeting valuation, the company is staring at the potential risk of sinking into negative territory. As such, the company was immediately ordered to stop its data collection activities in the country. The company’s activities gained national attention when thousands of Kenyans turned up at Kenyatta International Convention Centre (KICC) on August 1, to have their iris scanned in exchange for a Ksh7,000 token.

Source: Daily Nation August 21, 2023 12:14 UTC