Under the new guidelines, MetaMask’s RPC [Remote Procedure Call] node Infura would collect the user’s IP address as well as wallet address while sending a transaction. MetaMask [by default] uses Infura to get information on and off of blockchains.
Consensys further said. “However, if you’re using your own Ethereum node or a third-party RPC provider with MetaMask, then neither Infura nor MetaMask will collect your IP address or Ethereum wallet address.”
Many in the community have urged users to uninstall MetaMask and migrate to a new wallet.
Transparency has now become the buzzword in the industry ever since the collapse of the crypto exchange FTX earlier this month. The once dominant platform was accused of misusing customer assets in risky trading.
Soon after the incident, the crypto entities rushed to win back clients’ faith by promising to be “transparent,” notably by introducing Proof of Reserves in the case of centralized exchanges.
The world’s biggest crypto exchange Binance led the way and accordingly Kraken, Bitmex, Coinfloor, Gate.io HBTC, OKX, KuCoin and a host of other exchanges followed suit.
Ironically, Binance which championed Proof Of Reserves [PoR] in the wake of FTX’s bankruptcy was slammed for an undisclosed $2.7 billion USDT transfer that was initiated less than 24 hours after the audit publication, TronWeekly reported the other day.
A Reddit post by a user called OneThatNoseOne accused the trading platform of not revealing the wallet in their proof-of-reserves article.
The anonymous user urged Binance to take action in offering transparency at a time when users’ confidence in cryptocurrencies is at an all-time low so that people like him don’t have to dig through mountains of data for something they could have easily provided.