According to ConsenSys, information collected in this way may be disclosed to affiliates, during business transactions, or to comply with know-your-customer and anti-money laundering requirements dictated by law enforcement agencies. MetaMask is currently one of the most popular self-service wallets on the market with over 21 million monthly active users.
The reaction in the crypto community was mostly negative. For example, Adam Cochran, a partner at Cinneamhain Ventures, established:
“Nothing is more important than consumer privacy, especially when it comes to your financial data – you have the right to be anonymous. Metamask has provided a great free service for a long time, but their decision to log IP addresses and tie them to transactions is unacceptable.”
At the same time, Hayden Adams, the inventor of the Uniswap protocol, answered questions contours that the decentralized exchange does not track IP nor does it allow third-party tools on the platform. ConsenSys joins a number of prominent Web 3.0 companies, such as Coinbase, that have embraced IP collection in part due to increasingly stringent regulations.