Introduction

This Privacy Policy outlines how BYDFi Web3 (MoonX) collects, uses, shares, and protects user data when using our Web3 services. BYDFi Web3 (MoonX) utilizes Multi-Party Computation (MPC) technology provided by a third-party service provider to enhance security and protect user access.

By accessing or using BYDFi Web3 (MoonX) Services, you acknowledge and consent to the data practices described in this policy. If you do not agree with this policy, please discontinue the use of our services.

Data Collection

Types of Data Collected

BYDFi Web3 (MoonX) may collect the following types of data:

• Personal Information: Email addresses, IP addresses, and contact details (if applicable).
• Technical Data: Device identifiers, browser types, operating systems, and security authentication data.
• Transaction Data: Wallet addresses, transaction histories, and blockchain interactions.
• MPC Key Management Data: Data necessary for identity verification, device authentication, and key shard management for MPC-based wallet access.

Purpose of Data Collection

We collect data to:

• Provide and enhance Web3 Services, including MPC-based wallet security.
• Ensure security and compliance with regulatory requirements, including AML (Anti-Money Laundering).
• Optimize user experience through analytics and feedback.
• Facilitate wallet recovery processes via MPC service providers, ensuring users can regain access without storing full private keys.

Data Usage

How We Use Your Data

• Service Delivery: Enable transactions, secure wallet access, and provide technical support.
• Compliance: Meet legal obligations, including responding to regulatory inquiries.
• Security: Ensure private key shard distribution and authentication through MPC.
• Analytics: Improve functionality, performance, and security of BYDFi Web3 (MoonX) Services.

Marketing

We do not use your data for direct marketing unless you explicitly consent.

Data Sharing

Third-Party Service Providers

To provide a secure MPC-based Web3 wallet, we may share limited necessary data with trusted third-party providers, including:

• MPC Key Management Provider: Secure private key shards, enable authentication, and facilitate recovery processes.
• Blockchain Transaction Processing: Enable transactions on decentralized networks.
• Cloud Storage & Data Analytics: Enhance platform security and performance.

     Note: BYDFi Web3 (MoonX) does not store or control private keys. MPC key shards are distributed and stored by our third-party provider, which follows industry security standards (e.g., SOC 2, ISO 27001).
 

Legal Compliance

We may disclose data when required by law, including:

• Responding to regulatory or legal processes.
• Enforcing agreements and investigating potential violations.
• Protecting the rights and safety of BYDFi Web3 (MoonX) users and the platform.

Restrictions

BYDFi Web3 (MoonX) does not sell, lease, or trade user data to third parties under any circumstances.

Data Security

Security Measures

We implement industry-standard security measures, including:

• MPC Encryption: Private keys are never stored in full but are distributed via MPC for enhanced security.
• Regular Security Audits: We conduct audits to detect and mitigate potential risks.
• Access Control & Monitoring: We enforce strict security policies to prevent unauthorized access.

Limitations

While we strive to protect user data, no system is entirely immune to security risks. BYDFi Web3 (MoonX) disclaims liability for unauthorized access, data breaches, or cyberattacks that may result from third-party service provider vulnerabilities.

User Rights

Access and Correction

Users can access and request corrections to their personal data through our support channels.

Data Portability

Upon request, we provide a copy of your personal data in a commonly used electronic format.

Data Deletion

Users may request the deletion of personal data, subject to legal and operational requirements. However, certain data (e.g., blockchain transaction records) cannot be deleted or modified due to the decentralized nature of blockchain networks.

Retention Policy

We retain user data only for as long as necessary to:

• Maintain secure access to MPC-managed wallet services.
• Comply with legal and regulatory requirements.
• Ensure security and prevent fraud.

Data that is no longer required will be securely deleted or anonymized.

MPC Service Provider Responsibilities

Since BYDFi Web3 (MoonX) does not store full private keys, we rely on a third-party MPC provider to facilitate key management.

• MPC Provider Data Protection: Our third-party provider follows industry security certifications (e.g., SOC 2 Type II, ISO 27001).
• Data Handling Responsibility: BYDFi Web3 (MoonX) is responsible only for the data it directly collects and processes. The MPC provider independently manages private key security and may have its own privacy policy regarding key shard storage and recovery processes.
• User Responsibility: Users acknowledge that BYDFi Web3 (MoonX) is not responsible for security breaches or data misuse by third-party providers.

Policy Updates

Notification

This Privacy Policy may be updated periodically. Changes will be communicated through our official website.

User Acknowledgment

Continued use of BYDFi Web3 (MoonX) Services constitutes acceptance of updated policies.

Contact Information

For inquiries or concerns regarding this Privacy Policy, please contact us at: cs@bydfi.com