Bank of Korea CBDC Pilot Skipped Independent Security Audit, Report Says
5 Articles
5 Articles
Bank of Korea CBDC pilot skipped independent security audit, report says
South Korea’s first CBDC pilot has been conducted without any independent government security inspection, with participating banks relying mainly on their own pre-launch reviews before testing began. South Korean newspaper Maeil Business, citing data submitted by the Financial Supervisory Service…
South Korea’s CBDC Pilot Faces Scrutiny Over Missing Security Audit
Bank of Korea’s CBDC pilot relied mainly on internal security assessments before launch. No independent audit reviewed Project Hangang during or after real-world testing. Oversight concerns grow as South Korea expands CBDC and deposit token initiatives. South Korea’s central...
Key points of the news: The CBDC pilot from South Korea completed live payments with over 80,000 Wallets without any independent post-launch security audit. The only formal evaluation was conducted by the participating banks themselves before launch, without outside agency intervention. Phase 2 of the program scales to 500,000 users and incorporates programmable payments and biometric authentication. CBDC’s Bank of South Korea pilot project comp…
South Korea prepares the second phase of its CBDC project, with up to 500,000 users and new functions, while regulatory documents reveal that the pilot processed actual payments without an independent post-launch security audit. *** The first phase of the Hangang Project conducted 114,880 transactions through some 81,000 digital wallets and nearly 12,000 traders. Security assessments focused on pre-reviews and self-inspections of participating b…
Bank Of Korea's CBDC Pilot Lacked Independent Security Oversight, Report Finds
BitcoinWorld Bank of Korea’s CBDC Pilot Lacked Independent Security Oversight, Report Finds The Bank of Korea’s first-phase central bank digital currency (CBDC) pilot test proceeded without formal security inspections or independent oversight, according to a report from South Korean daily Maeil Business Newspaper. The revelation raises questions about the robustness of the security protocols governing the country’s initial foray into a digital …
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