Here is a nice article:
Almost all web browsers, in the case of webmail, send third-party cookies with these requests. The email address is leaked by being encoded as a parameter into these third-party URLs.
About 29% of emails leak the user’s email address to at least one third party when the email is opened, and about 19% of senders sent at least one email that had such a leak.
The majority of these leaks (62%) are intentional.[4] If the leaked email address is associated with a tracking cookie.
Most of the top leak recipients, including LiveIntent, Acxiom, Conversant Media, and Neustar, are involved in “people-based” marketing
For More Info:
https://freedom-to-tinker.com/2017/09/28/i-never-signed-up-for-this-privacy-implications-of-email-tracking/
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