Institutional faith in Pix has been rocked recently, as earlier this month, hackers using credentials purchased from a C&M employee were able to generate unauthorised PIX transactions on client banks and steal at least BRL$ 500 MM and maybe as much as BRL $ 5 BN.
Although funds are already being recovered, it has highlighted the opacity of Pix security, which has flown somewhat under the radar due to the closed nature of the system.
Although funds are already being recovered, it has highlighted the opacity of Pix security, which has flown somewhat under the radar due to the closed nature of the system.