The first phase pilot of the Bank of Korea's CBDC has been accused of lacking external independent security verification

According to Maeil Business, data from the South Korean Financial Supervisory Agency shows that during the first phase of the CBDC pilot project led by the Bank of Korea, financial authorities did not conduct independent security verification and only participating banks conducted pre security reviews on their own. Before the project was launched, the Financial Security Institute, SK Shields, and the self inspection teams of Youli Bank and Agricultural Cooperative Bank jointly conducted an IT vulnerability self-assessment. The Bank of Korea responded in the pilot results report that prior review was sufficient, but critics pointed out that the statement was a self-assessment and not an independent third-party verification.