Thai SEC and Cyber Crime Bureau raid World iris scanning center over unlicensed WLD token exchange
Thai authorities raided an iris scanning center allegedly operated by or linked to World Network and arrested suspects for running unlicensed WLD token exchange services without proper authorization. The raid aimed to protect users from fraud and money laundering risks associated with unregulated crypto operations.
What happened
Thailand's Securities and Exchange Commission (SEC) and Cyber Crime Investigation Bureau (CCIB) jointly raided an iris scanning center in Bangkok linked to World (formerly Worldcoin) on October 24, 2025. The operation resulted in arrests of suspects accused of providing 'WLD exchange services' without the required license under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).
The SEC discovered that operators were facilitating token exchanges linked to World's native cryptocurrency WLD in violation of licensing laws. World operates 102 iris-scanning locations in Thailand where users receive WLD tokens in exchange for iris scan verification.
Reported impact
SEC Deputy Secretary-General Jomkwan Kongsakul stated the operation was intended to protect users from potential scams and money laundering risks. Officials noted that users dealing with unauthorized operators are not covered by legal protection and face high risks of fraud and data misuse.
Index analysis
The SEC had previously issued public warnings against exchanging WLD tokens with unlicensed providers and urged the public to verify operator licenses through the official SEC website. The raid followed weeks of surveillance by the SEC's monitoring unit tracking several unlicensed operators across Thailand.
Governance controls
The enforcement action was carried out under Section 26 of the Emergency Decree on Digital Asset Businesses, which prohibits operation of digital asset businesses without a license, with penalties under Section 66. World states on its website that it only distributes WLD tokens in jurisdictions 'where laws allow' and is not responsible for the availability of WLD on third-party platforms.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.