IRS Dangles $625,000 Bounty for Cracking Crypto: Untraceable No More?

- The IRS is offering a bounty of up to $625,000 to anyone who can break supposedly untraceable privacy coins and trace transactions on Bitcoin's Lightning Network. - Submissions are open till September 16th. Upfront payment of $500,000 will be poured into developing the prototype into a functional concept, with an additional $125,000 upon successful completion of a pilot test. - Analystics firm CipherTrace claims to already have a tool capable of tracing several hundred transactions of the Top 100 cryptos including Monero, which was previously believed to untraceable.

Enticing The Crypto-Cracking Geniuses

The U.S. Internal Revenue Service (IRS) - the country's largest federal law enforcement agency - is about to shake up the crypto landscape. They’re offering a bounty worth up to a cool $625,000, for anyone capable of breaching the iron-clad walls of privacy coins like Monero and tracing transactions on Bitcoin's Lightning Network.

Time to Pull Up Those Coding Socks

Think your hacking skills are up to par? You have till September 16th to prove it and grab that cash! The IRS is ready to shower successful applicants with $500,000 of upfront payment, spread over the course of eight months, which