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❕NEWS IRS has put up a $625,000 bounty for anyone who can break into Monero and BTC

B

Balint098

Guest
As per Cointelegraph, the internal revenue service or IRS has offered a huge sum of $625,000 to anyone who can break Monero's privacy protocal. Not only that, the US tax agency also offers the same amount of bounty for anyone who can help them trace bitcoin transaction on the Lightning network. The deadline has been set on 16th September, and whoever submitted their project must have a workable property before being considered a worthy candidate. Up to $500,000 will be rewarded to accepted prototype, and further $125,000 for developing it into a working concept in eight months timeframe.
 
that's a smart move, they are trying to improve their security system using the cheapest method possible, i'm sure a lot of people will participate, compared to hiring security agencies, that's hella cheap
 
I don't get this bounty,is Irs suspecting that people are withholding tax or what?am sure there must be a good way for people to declare their revenue before it is converted to such forms of value such as crypto currency.In some ways is this not promoting more of hacking in other entities or similar ways to a larger extent.
 
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As per Cointelegraph, the internal revenue service or IRS has offered a huge sum of $625,000 to anyone who can break Monero's privacy protocal. Not only that, the US tax agency also offers the same amount of bounty for anyone who can help them trace bitcoin transaction on the Lightning network. The deadline has been set on 16th September, and whoever submitted their project must have a workable property before being considered a worthy candidate. Up to $500,000 will be rewarded to accepted prototype, and further $125,000 for developing it into a working concept in eight months timeframe.
Today is 19 September and I believe the read line is now over . We're you able to follow the topic and know if anyone was able to win this huge bounty ?
 
So far I have not seen anything on the subject, it would be the task of searching the internet for the award offered by the IRS for those who can develop a way to track transactions in privacy-focused networks, for example Monero
 
Since IRS is dealing with nationwide financial security I doubt they will publicly announce the winner. Besides, this will weakens the privacy of both crypto and making whoever win the contest enemy for those who don't want to get traced.
 
Since IRS is dealing with nationwide financial security I doubt they will publicly announce the winner. Besides, this will weakens the privacy of both crypto and making whoever win the contest enemy for those who don't want to get traced.
Good analysis, it's true, they may never announce the winners, since they would also be in danger because of the technology they handle. Many crooks will want to be behind that tool.
 
Two things I can sense here.
One is that is IRS having been suspicious about there security so they had want more people to participate and when they are able to break in.
They will find ways of putting maximum security in that area till they make sure everywhere is well secured.
So they employed this little trick to work It out for them and might even employee some ? ?
I think so too . It is just a way to try and see if these networks are very secured and reliable before they will dive into investing in them .
Most hackers won't want to submit , they will wait until they are into the network before attacking
 
Well this is cool , i think the are using this opportunity to check the weakness of those coins network , but this might be hard for some people to even do , i think those white hackers can try
 
Well this is cool , i think the are using this opportunity to check the weakness of those coins network , but this might be hard for some people to even do , i think those white hackers can try
Yeah. Especially now that they is monetary compensation in the end . Even the other type of hackers should try this breaching instead of stealing from companies
 
Yeah. Especially now that they is monetary compensation in the end . Even the other type of hackers should try this breaching instead of stealing from companies
They might not try this because most of those hackers will want to make more due to greed and prefer stealing than receiving this benefits thats it
 
They might not try this because most of those hackers will want to make more due to greed and prefer stealing than receiving this benefits thats it
Well , this is quite true . But then why not them see the need to change their lifestyle and turn to white heart hackers thus earning a legit mo ey by bridging security
 
Well , this is quite true . But then why not them see the need to change their lifestyle and turn to white heart hackers thus earning a legit mo ey by bridging security
Most of them cant turn to white hackers because they have their own sepcialized feild they hack on , so turning them to white hacker wont make useful in other areas
 
As per Cointelegraph, the internal revenue service or IRS has offered a huge sum of $625,000 to anyone who can break Monero's privacy protocal. Not only that, the US tax agency also offers the same amount of bounty for anyone who can help them trace bitcoin transaction on the Lightning network. The deadline has been set on 16th September, and whoever submitted their project must have a workable property before being considered a worthy candidate. Up to $500,000 will be rewarded to accepted prototype, and further $125,000 for developing it into a working concept in eight months timeframe.

Those bounty figures promoting hacking in inspiring way. I guess one day blockchain hidden code will be broken and nothing is safe online.
 
Those bounty figures promoting hacking in inspiring way. I guess one day blockchain hidden code will be broken and nothing is safe online.
We don't pray for that because once it is done ,every persons wallet and cryptocurrency is at risk of being stolen by the hackers
 
Yes,this is a crafty and smart move. The best way to prevent hacking is to know and work with them. However, top hackers will prefer moving millions of dollars worth of crypto than setting for mere 600k grands.
 

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