December 9, 2022

Uniswap will start tracking the activity of users' crypto wallets

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2 minutes.

Uniswap will start tracking the activity of users' crypto wallets

Decentralized exchange (DEX) Uniswap, in a new privacy policy, announced the collection of data on and off the blockchain associated with 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 plug in your unrelatedstoring the blockchain wallet to the services, we collect and register your public blockchain address to learn more about the use of the services and to check the wallet for any previous illegal activity.”

The developers have clarified that the data will not betouch sensitive personal information such as names, emails or IP addresses. The exchange states that all off-chain identifiers associated with user activity on the 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 online data and limited offline data such as device type, browser version, and so on.”

The privacy policy states 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 have users imported, what are their preferences? The DEX has confirmed that it checks users' wallets with certain blockchain analytics providers to help spot illegal activity.

In May, Uniswap reported that trading volume on the platform hit a record high of over $1 trillion.