The biggest Ethereum decentralized exchange, Uniswap, recently released a new privacy statement to make the information it collects more transparent. According to the privacy statement, the DEX gathers specific on-chain and off-chain information related to users’ crypto wallets.
It made it clear that on-chain data that is made available to the general public is examined to aid in decision-making. Regarding off-chain data, Uniswap asserted that it does not collect private information like names, emails, or IP addresses. The exchange did note that users’ off-chain web identifiers from other websites are still scraped.
“Our first priority is to protect user data and privacy, but we do want to make data-driven decisions that improve user experience. That includes public on-chain data and limited off-chain data like device type, browser version, etc.,” Uniswap said.
The decentralized exchange and other “third-party service providers” may collect information on users’ mobile deviceIDs, cookies, information from localStorage, operating systems, devices, or browser languages, according to the privacy statement. According to Uniswap, this data may be utilized to keep track of the tokens users have imported as well as learn about their preferences and interactions.
Uses some blockchain analytics firms to analyze user wallets
The decentralized exchange further acknowledged that it uses some blockchain analytics firms to analyze user wallets in order to spot fraudulent activities. This comes after the exchange barred 253 cryptocurrency addresses connected to the mixing service Tornado Cash a few months prior, in collaboration with the blockchain analytics company TRM Labs.
On the Ethereum blockchain, Uniswap is the decentralized exchange with the most volume. Uniswap has been responsible for almost 60% of Ethereum’s on-chain volume so far in November.
The company that created Uniswap, Uniswap Labs, just raised $165 million in a Series B financing at a $1.6 billion value.
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