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Decentralized exchange (DEX) Uniswap, in a new privacy policy, reported on the collection of on-chain and off-chain data related to customers' crypto wallets.
The Uniswap team explained that the information received will be analyzed so that the platform can make a decision regarding the user:
"When you connect your non-custodial blockchain wallet to the services, we collect and register your public blockchain address to learn more about using the services and check the wallet forany prior illegal activity."
The developers have clarified that the data will not beconcern sensitive personal information such as names, emails or IP addresses. The exchange states that all off-chain identifiers associated with user activity on an external website are still removed:
"Our top priority is to protectuser data and privacy, but we really want to make data-driven decisions that improve the user experience. This is public data on the network and limited data offline, such as device type, browser version, and so on.”
The privacy policy notes thatThe decentralized exchange and other "third party service providers" may collect data related to the user's mobile device ID, cookies, local storage information, operating system, device or browser language. According to Uniswap representatives, such information can be used to remember information: what tokens did users import, what are their preferences? DEX confirmed that it verifies users' wallets with certain blockchain analytics providers to help identify illegal activity.
In May, Uniswap reported that trading volume on the platform reached a record high of more than $1 trillion.
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