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ConsenSys Faces Backlash For Collecting MetaMask Users’ Wallet And IP Addresses

Author

John Asher

Tags

Reading time

2 mins
Last update

Author

John Asher

Tags

Reading time

2 mins
Last update

Author

John Asher

Tags

Reading time

2 mins
Last update

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ConsenSys, a blockchain software technology company, has an updated privacy policy stating that it will collect the user’s IP address and wallet address. The crypto Twitter community expressed their dissatisfaction with ConsenSys’s action.

ConsenSys Collects MetaMask Users’ Wallet And IP Addresses

ConsenSys, an Ethereum-based blockchain company and owner of the popular wallet MetaMask, has updated its privacy policy. Consensys’s updated privacy policy mentions all the information the company collects from users such as identity, contact, profile, and financial information including asset holdings, bank account numbers, and bank routing numbers. 

The new guidelines require MetaMask’s RPC (Remote Procedure Call) node Infura to collect the user’s IP address and Ethereum wallet address for transactions. RPC is a software communication protocol that allows one program to request data and information from a program running on a third-party computer server.

ConsenSys stated if users employ their own Ethereum node or a third-party RPC provider with MetaMask, then neither Infura nor MetaMask will collect the user’s IP address or Ethereum wallet address. Infura, which is a blockchain tool developer, and MetaMask, a digital wallet, are both products offered by ConsenSys. Alternative RPC providers, such as Alchemy, Moralis, Ankr, QuickNode, or Tatum can be used and thus the firm would not collect such data but emphasized that third-party RPC providers may collect such data if they want to.

ConsenSys Faces Backlash FromThe Crypto Twitter Community

The crypto community didn’t react well to the controversial update and expressed their objection to ConsenSys’ decision. Adam Cochran of  Synthetix and Yearn Finance voiced out his sentiment in a tweet stating that consumer privacy is a fundamental right, especially when it comes to financial data. Furthermore, he mentioned that Metamask’s decision to log IP addresses and tie them to transactions is unacceptable.

Chris Blec, a decentralization advocate, asserted that these types of policies should not be ignored. He also predicts that MetaMask will eventually force users to use either Infura RPCs or other whitelisted RPCs that OFAC (Office of Foreign Assets Control) has approved.

Majority of the community claim that decentralization must remain a key feature of the industry if it wants to uphold the core principles upon which it was founded.