Yes - many of the free apps are dodgy and are "FREE" because the collect user data. Some, just for marketing... some, to hack you and get all your monies.
But THIS.... well, who knows exactly why. Maybe just to manipulate markets, or maybe something a bit more sinister.
Either way, I have already removed this app!! And you should too! Here is the evidence:
http://bitcoinerrorlog.com/blockfolio-crypto-portfolio-app-is-snooping-on-users
