Uniswap exchange begins collecting data on users’ crypto wallets

The platform has updated its privacy policy

21.11.2022 - 13:30

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What’s new? On November 17, the decentralized crypto exchange (DEX) Uniswap updated its privacy policy. According to the new rules, the platform collects data tied to users’ cryptocurrency wallets. The information includes publicly-available blockchain data, information from localStorage and other tracking technologies. The platform can receive information about a customer’s wallet address or transactions made through the services of Uniswap service providers. If a user participates in exchange surveys, Uniswap also receives information from them.

Information on the Uniswap website

What else does the update say? Uniswap may use customer data for the following purposes:

To maintain and improve the services;
For safety and security and to investigate and stop fraudulent, unauthorized, or illegal activities;
To comply with legal regulations;
To provide customer support and respond to requests for services.

Uniswap can share data with service providers and regulators upon request with customer permission. The platform’s team has assured that it does not share user information with third parties for marketing purposes.

What is Uniswap? It is a decentralized protocol for the exchange of cryptocurrencies, created based on Ethereum in 2018. The platform uses the native token UNI to provide liquidity. As of November 21, 12:40 UTC, the asset is trading at $5,34, down by 4,13% in 24 hours, according to Binance.

On November 14, Uniswap became the second-largest platform in terms of the daily trading volume of Ethereum cryptocurrency, overtaking its nearest rival, the centralized exchange (CEX) Coinbase.

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