Odaily Planet Daily News Pedro Magalhaes, founder of Web3 consulting firm Iora Labs, reverse-engineered the Brazilian Central Bank Digital Currency (CBDC) code and found that the government had built-in capabilities to freeze funds and adjust balances. Magalhaes, who initially posted the discovery on his LinkedIn profile for "educational purposes," initially thought the feature only referred to DeFi or CeFi and "may need to freeze balances to complete smart contract operations," but later said the official response was The central bank can take action at any time. (Decrypt)