ConsenSys Starts Collecting User IP and Ethereum Wallet Addresses

ConsenSys Starts Collecting User IP and Ethereum Wallet Addresses

Apart from user IP and Ethereum wallet addresses, ConsenSys will collect customer usernames, passwords, gender, bank account numbers, bank routing number, and asset holdings.

ConsenSys, a New York-based blockchain software technology company and developer of crypto wallet MetaMask, has updated its privacy policy agreement and is now collecting user IP and Ethereum wallet addresses.

According to the updated privacy policy, ConsenSys will gather user data when they use MetaMask’s Remote Procedure Call (RPC) application, dubbed Infura.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Ethereum & What is it Used For? (Animated Explanation)

What is Ethereum & What is it Used For? (Animated Explanation) What is Ethereum & What is it Used For? (Animated Explanation)

The privacy policy outlined that when investors choose to use their own Ethereum node or third-party RPC provider, ConsenSys won’t gather user data.

In particular, ConsenSys aims to gather investors' personal information, such as usernames, passwords, and gender. On top of that, the company will collect investors’ financial data, including bank account numbers, bank routing numbers, and asset holdings.

In the privacy policy, ConsenSys noted that collected data can be provided to affiliates during various business deals. Moreover, the information can be given to law enforcement to comply with Anti-Money Laundering or Know Your Customer requirements.

The crypto community was mostly disappointed with ConsenSys's new privacy policy. A venture capital investment firm’s Cinneamhain Ventures partner, Adam Cochran, shared a lengthy Twitter thread, stating:

There is nothing more important than consumer privacy, especially when it comes to your financial data — you have a right to be anonymous. Metamask has provided a great free service for a long time, but their decision to log IPs and tie it to transactions is unacceptable.

On top of that, another Twitter user, dubbed Crypto24by7, sarcastically thanked MetaMask for giving user a reason to move their holding from Metamask to a hardware wallet, Ledger.

The news comes only days after cryptocurrency exchange Uniswap revealed that it is collecting public on-chain and limited off-chain data, such as browser version, device type, and so on.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


Loading...