MetaMask to gather user IP addresses

• Consensys has issued an improved privacy policy agreement. 
• The famous browser wallet has more than 21 million monthly active users. 

On November 23, Consensys issued an improved privacy policy agreement. In that revised agreement, it is noted that Metamask will start cummulating users’ IP addresses and Ethereum wallet addresses at the time of on-chain transactions. 

Although, ConsenSys, the wallet developer, describes that the pile of users’ data will only be used if they have MetaMask’s default Remote Procedure Call (RPC) application, Infura.  Persons having their own Ethereum node or a third-party RPC provider with Metamask are thus not subject to the recently updated ConsenSys privacy policy. Rather than this, the conditions of the other RPC provider apply.

As per ConsenSys, details collected in this way may be revealed to partners, during business deals, or to comply with KYC and anti-money laundering needs imposed by law enforcement. In line with ConsenSys, the use of personal information can be done for providing the service, to comply with the law, to communicate with people, to optimize the platform, for compliance, fraud prevention and safety. 

Data Security

Now you may be wondering that if the data will be collected then how it is secure?

The question to this answer is quite simple. The personal information is kept to comply with law where needed and also to prevent scams. Although, the transmittion of personal information via the internet can never be guaranteed. Users of the services are answerable for keeping the security of passwords, biometrics, user ID, etc, indulged in getting access to password protected or secure areas of any of our digital services.

At present, MetaMask is among the most popular self -custody wallets on the market having over 21 million monthly active users. The response inside the crypto community has been negative many times. Such as, Adam Cochran, associate at Cinnemhain Ventures, said:

“Consumer privacy is our top priority, particularly when it is a matter of your financial data, you have an authority to be unknown. Metamask has given a significant free service for a long time, but their decision to record IPs and bound it to transactions is not acceptable.”

Meanwhile, Hayden Adams, the founder of the Uniswap protocol, replied to queries by mentioning that the decentralized exchange doesn’t track IPs and also it doesn’t permit third-party tools on the platform to do so. ConsenSys has now linked itself to the ranks of significant Web3 firms, like Coinbase, that uses IP collection partly because of growing strict laws.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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