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The US Internal Revenue Service (IRS) wants to pay a contractor $ 625,000 if he can breach level two privacy schemes and the privacy-focused crypto asset monero (XMR). The tax agency says the entity has “limited investigative resources” to track these types of cryptocurrency transactions.
The US tax agency wants to get a solution for tracking monero digital currency (XMR), along with “Layer 2 network protocol transactions” such as Lightning Network. The IRS will distribute $ 625,000 to “one or more contractors” in two stages; $ 500k will be distributed after the first proof-of-concept, then another $ 125k after a full review and launch.
“Currently, there are limited investigative resources to track transactions involving privacy cryptocurrency coins such as monero, Layer 2 network protocol transactions such as Lightning Labs, or other off-chain transactions that provide privacy to offenders,” notes the IRS contract offer.
The contractor will provide “weekly progress reports” and will work with members of the CI Cyber Crimes unit and special IT agents.
“All documentation, data, source code and developed software must be provided to IRS-CI.” There are essentially three goals that the contractor must achieve, which include:
- Provide technical information and functionality to CI special agents to track transaction inputs and outputs to a specific user and differentiate them from mixin / multisig actors for Monero and / or Lightning Layer 2 cryptocurrency transactions with minimal involvement of external vendors
- Provide technology that, by providing information on specific parts and / or transactions in the Monero and / or Lightning networks, enables special agents to predict the statistical probabilities of other inputs, outputs, metadata and public identifiers of other transactions with minimal involvement of external suppliers
- Provide algorithms and source code to allow CI to further develop, modify and integrate these features with internal code and systems with minimal cost, licensing issues or dependence on external vendors
Of course on social media and forums, the crypto community had something to say about the IRS’s latest job offer. Some people even complimented Monero (XMR) for being so elusive to law enforcement special forces.
“It’s so funny, how desperate the IRS is [and how they] they want their share of your drug money in the dark net “, She said a person on Twitter. “It must really bother them to think of all that money they could steal if you just didn’t secure your funds through encryption. Monero, keep it up, “he added.
Another person wrote, “The odds are better for landing a boat on the surface of our Sun … It must be a prerequisite for being a little mentally retarded to work for the IRS,” he. added. Meanwhile, others have also criticized the US tax agency for looking into the monero, while they should really look into US dollar-related criminal operations.
“The IRS does not need to try to understand the criminal activity that uses the USD cash currency in their crimes, (probably 1,000,000,000 times that of monero)”, one person She said.
In fact, the IRS contract has been more of a laughingstock for many social media privacy coin advocates.
“If you can break Monero, why the hell are you settling for $ 625K, LMAO”, another tweeted.
What do you think of the IRS wanting to breach privacy-focused monero and level two transactions? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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