An orb, a device utilized to scan people's irises, is held in front of Gyeongbok Palace in Seoul, in this undated photo. Screenshot from Worldcoin's X

A woman who goes by the English name Emma said she recently took her husband to Seongsu-dong in Seoul to have his iris scanned after Worldcoin resumed its service in Korea.

"Worldcoin is not a meaningless coin. It was developed by Open AI CEO Sam Altman. There's a high possibility that the coin's value will increase in the future. If it happens, you can transfer the coins accumulated in your app to a crypto exchange account and convert them into cash for a tidy profit," she said.

Since having her irises scan in February, she has monetized 280,000 won ($204.48) from the coin.

Including Emma, an increasing number of Koreans are looking to register their irises for Worldcoin to receive free coins.

Under the slogan "For Every Human," Worldcoin uses a device called the Orb to scan people's irises as "proof of personhood." After verification, it links the data to its blockchain system and creates a personal ID and digital wallet.

In exchange for signing up to the protocol, participants receive 10 Worldcoin tokens in one swoop. Every two weeks, three additional Worldcoin tokens are continuously credited to each individual's wallet.

Since the start of this month, Worldcoin has resumed its iris registration services for the public in six key locations in Seoul, including COEX in Samseong-dong, Yeoksam-dong, Seongsu-dong, Euljiro, Yongsan and Yeouido.

The resumption comes two months after the service was suspended in Korea following allegations of illegal use of personal information.

According to one orb operator in Seoul, although their branch accepts reservations for up to 100 people per day, all slots are filled for the foreseeable future on both weekdays and weekends.

People line up to have their irises scanned in this undated and unlocated photo. Screenshot from Worldcoin's website

Worldcoin reports that the information of 5.1 million people from 36 countries has been collected.

Despite its popularity, the resumption of the service in Korea raises concerns as it faces increasing global sanctions due to potential risks of misuse of personal information.

The United States has banned Worldcoin transactions and iris registrations, citing the unpredictability of how registered iris data might be used and the potential risk of hacking. France, India, Hong Kong and Brazil also prohibited the registration service for similar reasons.

Worldcoin maintains that there is no possibility of data leakage, as the captured iris images are encrypted and then immediately deleted.

While Korea's Personal Information Protection Commission began an investigation on Feb. 29, it has not yet imposed regulations on its iris registration services within the country. Transactions are still being conducted on domestic crypto exchanges like Bithumb and Coinone.

"Although the exact timeline for the investigation cannot be confirmed, efforts are underway to complete it as soon as possible," an official of the commission said.

There are also scam allegations associated with the project, which aims to "provide a universal basic income to authorized humans in anticipation of AI replacing human labor."

However, details on the business strategy or funding methods haven't been disclosed. Some market insiders describe it as a potential Ponzi scheme, arguing that the basic income would be funded by reselling the coin at higher prices to new investors amid increased demand.