When a worm bin is first set up, it is normally filled with bedding, some soil and some food, and then is left for a week or so to mature before any worms are placed in it. The conditions in a new worm farm are ideal for white, fuzzy mold to get started and to cover the entire top of the bedding in the bin. Without the worms in the bin to constantly work the contents, the mold will quickly grow on all surfaces.
The best way to deal with white mold in a worm bin it is to gently stir the bedding in the bin and add the worms to the bin. If worms are already living in the bin, the mold is a sign that the contents of the bin are most likely either too acidic or too wet. Mixing in dry bedding or powdered lime will help. Cut down on the amount the worms are being fed, and make sure they are not being given orange peel or other citrus scraps. Also check to make sure liquid is not pooling up in the bottom of the bin; it should be draining out on an ongoing basis.
Since mold grows best in an undisturbed environment, the best way to keep it from taking over a worm bin is by placing the worms in the bin as soon as possible. Although the worms will benefit by allowing time for the bedding in the bin to age, it does not need to be left for long, and the worms can be added a few days after the bin is filled with bedding. Don't overfeed or over-water them, and avoid giving them scraps from acidic foods.