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- Data theft originated from one of MetaMask’s third-party service providers.
- MetaMask’s revised privacy policy in November 2022 faced backlash.
ConsenSys, the organization behind the widely used cryptocurrency wallet MetaMask, has revealed a data breach that has understandably raised concerns within the crypto community.
Nonetheless, the developers of the MetaMask extension and mobile application have reassured users of their complete security. As a non-custodial software, the crypto wallet does not store any user information. On Friday, the company disclosed that the data breach was linked to one of its third-party service providers.
Criticism of Privacy Policy
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MetaMask’s revised privacy policy in November 2022 faced criticism for permitting a communication protocol provider to collect user data, such as IP addresses and Ethereum wallet addresses, during transactions. In response to significant feedback regarding its data collection practices, ConsenSys later clarified its privacy policy.
On Friday, ConsenSys announced that user data had been compromised. Approximately 7,000 individuals who reached out to MetaMask’s customer support with sensitive information between August 1, 2021, and February 10, 2023, were affected, according to the company. The firm emphasized the security of its application and browser extension.
The organization provided details on the types of user information that were compromised. While the customer service provider’s access may have exposed users’ email addresses, the company cautioned that other details, including names, addresses, phone numbers, and credit card information, may have been exposed over the span of 18 months. The statement indicated that around 7,000 individuals worldwide were impacted.
Although the specifics of the data breach remain unclear, incidents like this could heighten the already significant regulatory risks facing the cryptocurrency industry.
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