China Exposes Crypto Token Scams Luring Victims with Iris Scan Bait

Another day, another crypto hustle—this time with a biometric twist. Chinese authorities just dropped a warning about bad actors using digital tokens as bait to harvest iris scans. Because why settle for draining wallets when you can steal eyeball data too?

How the scam works: Fraudsters dangle 'exclusive' token offerings or mining rewards, then demand iris authentication for 'KYC compliance.' Victims get ghosted after surrendering their biometric data—which then likely gets resold on darknet markets. Classic rug pull meets identity theft.

The irony? These scams flourish in regulatory gray zones where crypto projects often operate. Maybe next time someone pitches you a 'groundbreaking' token, ask if it comes with free identity protection insurance. Spoiler: It won't.

China’s Ministry of State Security has alerted the public that some foreign firms are using cryptocurrency token giveaways to collect people’s iris scans. Officials warn that sensitive eye data is sent overseas, posing a threat to both personal privacy and national security. They urge citizens to avoid sharing biometric details for token rewards, as stolen iris data could be misused for identity theft, spying, or cybercrime.