In light of the hack, Haddad emphasized that Drex is designed not to monitor individuals but to streamline transactions, enforce transparency, and reduce costs across the financial system. He argued that the project also offers a more level playing field in competition with global tech giants, while data sovereignty remains a core objective.
“We’re not building surveillance. We’re building infrastructure,” Haddad said, pointing to the need for secure and sovereign data centers in Brazil to safeguard sensitive financial information.
Brazil’s Drex rollout renews debate over centralized risk and crypto regulation
Public trust in centralized financial institutions is under pressure after recent breaches. Experts warn legacy systems remain vulnerable to cyberattacks. Drex, though a centralized token, aims to modernize financial rails and boost resilience.
Meanwhile, the laundering of stolen funds through crypto exchanges has reignited concerns over digital assets enabling financial crime. While blockchain offers transparency and user control, its decentralized nature can be exploited via loosely regulated platforms with limited oversight. This duality highlights the need for regulation targeting both banking weaknesses and crypto infrastructure.