ConsenSys, the Ethereum protocol behind MetaMask wallet and an application for developers Infura, decided to update its privacy policy. ConsenSys now collects IPs, usernames, KYC details, and bank account information.
Running the ConsenSys application, MetaMask, users agree to share their full name, date of birth, and gender. Consensys also demands home address details and telephone numbers to reach out to users. In addition to tracking IP and wallet addresses, MetaMask also stores personal bank details, with the app’s support of Visa and Mastercard.
These changes will primarily affect those MetaMask users who use Infura as their default Remote Procedure Call (RPC) provider. That means each time using the default provider, your IP address and Ethereum wallet address will be collected when you’re making a transaction. The personal information of those who use their nodes won’t be cached.
Ethereum educator Anthony Sassano suggested switching providers for those who agree with the new privacy policy.
Only some people in the crypto community are happy with the company’s decision, primarily because privacy concerns happen to be the core of DeFi. In their official statement, ConsenSys explained the decision:
We use your personal information as we believe necessary or appropriate to comply with applicable laws (including anti-money laundering (AML) laws and know-your-customer (KYC) requirements), lawful requests and legal process, such as to respond to subpoenas or requests from government authorities.
Speaking to Cointelegraph on Nov 25., ConsenSys officials claim:
“Infura does not improperly exploit this information and ConsenSys does not monetize this information as some Web2 companies do.”
On Nov 11., another DeFi application, crypto exchange Uniswap, updated its privacy policy:
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. Because Uniswap Labs does not collect personal data, any vendors we work with do not have any personal data either.
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