Odaily Planet Daily News The Bank for International Settlements (BIS) Innovation Center Nordic Center released a plan to protect central bank digital currencies from hacking and data leakage in the DeFi market. The framework addresses risks identified in the DeFi sector that could threaten CBDCs using DLT and smart contract technology.

Its report, "Project Polaris: A Security and Resilience Framework and Threat Modeling Gap for CBDC Systems," states that "large-scale attacks on DLT protocols and smart contracts in the DeFi space highlight potential operational and reputational risks. Recent smart contract hacks The incident caused DeFi to lose a lot of value, which is an example of the potential security risks that CBDC systems may face.”
The rise of the internet, telecommunications networks and devices has resulted in a diverse, complex and rapidly evolving cyber threat landscape, the study said. According to the BIS, these risks could extend to DLT-related attacks targeting consensus protocols, cross-chain bridges, oracles and smart contracts, and off-chain CBDC components. The BIS framework, released on Thursday, is part of Project Polaris, which aims to create a "secure and resilient CBDC system both offline and online." Project Polaris plans to provide global central banks with a framework for CBDC design, implementation, planning, and operational considerations. (The Block)