Uniswap Admits Collecting Users’ Wallets Data
According to Uniswap’s revised privacy statement, it collects information related to user wallets. On the 22nd of November, the crypto exchange stated that it only collects such data in a bid to provide a better experience for its users.
Data Collection Is Necessary For Excellent Service
The biggest decentralised Ethereum exchange, Uniswap, has just released a new privacy policy. According to the crypto exchange, the firm remains committed to ensuring that the privacy of users is well guarded.
In the website post made on November 22, 2022, the exchange admits that two series of data will be gathered from users: “public on-chain data and limited off-chain data.”
The crypto exchange states that the firm remains one of the frontliners in ensuring that the privacy of users remains secure, but for the effectiveness of service rendering, the public on-chain data and limited off-chain data need to be retrieved.
On-chain data that is readily available is said to be carefully evaluated in order to help make the best and most personalised service for the users. On the other hand, with regard to off-chain data, the details that they gather are limited to browser versions, device type, etc.
Uniswap emphasised in the post made on its website that these data are only collected to generally improve users’ experiences.
According to the firm, it does not in any way release users’ information to apps that are third parties. In fact, the crypto exchange stated that it has just launched a “reverse proxy server” that blocks third-party apps from seeping into the information of users.
Uniswap has stated that one of the main distinguishing features of Web2 and Web3 remains privacy, and as a crypto firm that is of the opinion that privacy should remain sacrosanct at all times, the exchange will always protect its users.
Users React, Claims Of Breach Of Privacy Surface
Notwithstanding the reassurance given by Uniswap, a number of users and observers have taken to social media to express their opinion about the safety of the crypto exchange being compromised.
Especially with the clause in the Uniswap report that admits that the exchange checks for illegal activities by occasionally screening users’ wallets using blockchain analytics, users have started expressing their displeasure with the development.
According to them, Uniswap’s claim of privacy protection is nothing but a mere marketing front.
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