Banco Central do Brasil published the source code for its CBDC on GitHub last week and allowed the public to conduct an audit of the system’s code.
Developers soon found concerning functionality in the source code of Brazil’s CBDC pilot, including mechanisms to control individual wallets and the funds they hold.
Concerning functions
Developers quickly began analyzing the code and found that the smart contract included admin functionality called “Access Control,” which the central bank could share with trusted entities.
Access Control in this context functions similarly to administrative rights or privileges on a computer network. Its main purpose is to allow trusted entities to mint and burn the CBDC token on any address in the system.
Full-stack developer Pedro Magalhães reverse-engineered the code and found a number of concerning functions that can be executed by entities that have Access Control permission.
These include freezing and unfreezing of wallets; increasing or dec

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