Uniswap Labs updated privacy policy revealed that the company is collecting public user on-chain data.
Uniswap Labs, a cryptocurrency exchange that uses a decentralized network protocol, has revealed that it is collecting specific user on-chain data.
According to the published and later deleted post, scheduled for November 22nd, the company is collecting public on-chain and limited off-chain data, such as browser version, device type, and so on.
Did you know?
Subscribe - We publish new crypto explainer videos every week!
Bullish vs Bearish Markets: How to Predict it? (Animated)
In the blog post, the company noted:
Our first priority is to protect user data and privacy, but we do want to make data-driven decisions that improve user experience.
Uniswap Labs highlighted that it doesn’t store or collect personal data, such as first name, last name, street address, date of birth, email address, or IP address. On top of that, the company emphasized that because Unsiwap doesn't collect it, the vendors Uniswap is working with also don’t have any customer personal data.
In Uniswap’s privacy policy, the company notes that it uses collected data to improve its products and services, stop fraudulent or illegal activities and solve various security issues, such as bugs. On top of that, Uniswap highlighted that if requested, collected data can be provided to government institutions, industry regulators, and law enforcement to comply with various laws and regulations.
At the end of its blog post, Uniswap emphasized that it is not sharing user data with third parties.
It is worth noting that Uniswap collects, uses, and shares data gathered from the Uniswap web app and www.uniswap.org.
In other Uniswap-related news, in the middle of October, Uniswap bagged $165M in Series B funding, led by Polychain Capital and longtime investors Paradigm, Variant, a16z crypto, and SV Angel.
