Uniswap will start tracking the activity of users' crypto wallets

Decentralized exchange (DEX) Uniswap has announced in a new privacy policy the collection of data on and off the blockchain associated with its customers' crypto wallets.

The Uniswap team clarified that the information received will be analyzed so that the platform can make a decision about the user:

“When you connect your blockchain wallet to the Services, we collect and register your public blockchain address to learn more about your use of the Services and check your wallet for past illegal activity.”

The developers have indicated that the data will not contain sensitive personal information such as names, email addresses or IP addresses. The exchange states that all off-chain identifiers associated with user activities on the external website are still removed:

“Our top priority is protecting user 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 statement notes that the 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 detect illegal activity.

In May, Uniswap reported that trading volume on the platform reached an all-time high of over $1 trillion.