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United States Will Pay You $625K if You Can Crack Monero’s Privacy

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The United States Internal Revenue Service is offering a bounty of up to $625,000 to individuals who are successfully able to breach the privacy protocol of Monero (XMR), according to a proposal published in early September.
  • The proposal asks for submissions from anyone who can demonstrate working prototypes that can trace transactions on Monero as well as the Lightning Network
  • Specifically, the tax department desires innovative solutions for “tracing and attribution of privacy coins, such as expert tools, data, source code, algorithms, and software development services”
  • The IRS will offer a grant to successful applicants with their concepts, granted $500K for the first 8 months
  • Those who positively demonstrate the solution – a further $125,000 will be granted
  • Monero is the most popular privacy coin on the market and obfuscates both sender and receiver identities, and transaction amounts
  • The US government has been working with crypto companies to establish tracing solutions, with CipherTrace and Department of Homeland Security recently signing a contract to that end
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