dydx is Accused of Collecting Personal Data of New Users
Cinneamhain Ventures partner Adam Cochran has said that he is disappointed with decentralized derivatives exchange dydx’s decision to collect and store biometric data of new users as part of a promotion.
The platform promised 25 USDC to new users who deposited at least 500 USDC and were verified by creating a webcam image. We should note that the promotion was voluntary.
The company has said that it started this initiative in order to eliminate the creation of additional accounts that make it difficult to conduct marketing campaigns.
According to Adam Cochran, the collection of biometric data is not acceptable, even if the platform has legal grounds to justify account bans.
dydx canceled the promotion the following day citing underestimated interest in the campaign.
