What kind of information does this access cause to steal information from our phone, and what will happen to our information if it falls into the wrong hands?
so we need be careful
Yeah it'll effect anything you click copy on when the app is open or portnailly just in the background.
And if it iendsnup with them it's up to them what they do with it. They could track you, sell it on, pass it to the relevant authorities...
They could also analyse information to build up data to improve their app and may not analyse it in raw. It's not a good idea to keep a private key or a seed on your clipboard ajyway and if you do you can load up your clipboard and delete it (but if an app is opens in the background it may have access to it).