Pi-hole includes a caching and forwarding DNS server, now known as FTLDNS. After applying the blocking lists, it forwards requests made by the clients to configured upstream DNS server(s). However, as has been mentioned by several users in the past, this leads to some privacy concerns as it ultimately raises the question: Whom can you trust? Recently, more and more small (and not so small) DNS upstream providers have appeared on the market, advertising free and private DNS service, but how can you know that they keep their promises? Right, you can't. Furthermore, from the point of an attacker, the DNS servers of larger providers are very worthwhile targets, as they only need to poison one DNS server, but millions of users might be affected. Instead of your bank's actual IP address, you could be sent to a phishing site hosted on some island. This scenario has already happened and it isn't unlikely to happen again...