The United States’s Internal Revenue Service (IRS) is inviting users to participate in a program to crack Monero’s privacy-focused blockchain network.
According to an official proposal published last week, the IRS is taking applications for participants who believe they can break Monero’s untraceable transactions. The Federal agency is offering up to $625,000 in two phases to anyone who is able to complete the task.
The proposal reads,
IRS-CI is seeking a solution with one or more contractors to provide innovative solutions for tracing and attribution of privacy coins, such as expert tools, data, source code, algorithms, and software development services.
The IRS cited a rise in cybercrime usage involving privacy coins as motivation behind the initiative.
The post continued,
Currently, there are limited investigative resources for tracing transactions involving privacy cryptocurrency coins such as Monero or other off-chain transactions that provide privacy to illicit actors.
Private contractors and individuals are invited to submit their working prototypes, including applications that can identify personal information belonging to a Monero wallet user.
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