Using literal empty curly braces {} inside sed command from find -exec

In this case, you can work around find's exec grammar by capturing a brace expression and using a back reference in the replacement text:

$ cat f1 f2
f1: hello{}a
f2: hello{}a
$ find . -type f -exec sed -i 's/hello\([{][}]\)a/hello\1b/g' '{}' +
$ cat f1 f2
f1: hello{}b
f2: hello{}b

Or, more simply (as noted in the comments):

find "$dir" -type f -exec sed -i 's/\(hello[{]}\)a/\1b/g' {} +

Note that the -i option for Sed is not portable and will not work everywhere. The given command will work on GNU Sed only.

For details, see:

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