U.S. Government Puts Up $10 Million Bounty In Crypto

2021-7-20 02:00

The U.S. Department of State has put out an offer for a bounty in crypto up to the tune of $10 million in exchange for actionable information on cyberattacks that are carried out by foreign governments. This will be the first time that the U.S. government has embraced the use of cryptocurrencies to pay for services rendered.

The offer was made through the U.S. Department of State’s Rewards for Justice program, administered by the Diplomatic Security Service. Since certain cyber operations targeting United States critical infrastructure might violate the Computer Fraud and Abuse Act (FCAA), the Department of State is trying to get in front of the attacks before they occur.

Related Reading | Make It Rain Satoshis: Las Vegas Strip Club Starts Accepting Bitcoin Payments

These attacks include and are not limited to transmitting extortion threats as part of ransomware attacks, intentional unauthorized access to a computer, or exceeding authorized access. In which case, the attacker would obtain information from a protected computer, which they can use to transmit a program, information, code, or command. And thus, use that access to cause damage to a protected computer.

How Will The Ransom Be Paid

The U.S. Department of State explained that they had set up a tips-reporting channel using the Dark Web (Tor-based) in order to ensure the safety and security of sources and make sure they are protected.

The U.S. Department of State’s Rewards for Justice program is also working with other agency partners in order to ensure the privacy of the information and make sure the information coming in is processed in a timely manner.

Total crypto market cap trails $1.24T | Source: Crypto Total Market Cap on TradingView.com

To ensure this, the U.S. Department of State has also stated that the reward payments may also include payments in cryptocurrency. This is not a stretch as a good way to ensure the privacy of the reporters would be to pay in digital assets, as this will ensure that the attackers cannot track who the payments were made to.

A report from CoinDesk writes that a State Department spokesperson had confirmed that this would be the first time that the program would offer payment in crypto.

This marks the first time since its establishment in 1984 that the Rewards for Justice program has offered a reward payment in cryptocurrency.

The U.S. Government And Crypto Going Forward

The offer of possible payment in digital assets by the Rewards for Justice program shows that crypto adoption is headed in the right direction in the industry.

One problem that has been in the crypto space is the fact that governments have been so strongly against digital currencies. Crypto trading is banned in a lot of countries.

Recently, China carried out a massive crackdown on mining in the country, which happens to be the mining capital of the world, with over 70% of mining done in the country. And in the same streak, the government had ordered banks and financial institutions to stop enabling trading of crypto in the country.

Related Reading | Bitcoin Might Already Be In A Bear Market, Investors Just Don’t Know It Yet

But news of El Salvador making bitcoin a legal tender and other countries showing interest in doing the same has shown that crypto adoption is becoming more and more a reality.

Politicians in the U.S. government have also started showing support for the coin. U.S. Mayor Scott Conger posted on his Twitter account that he believed that bitcoin would help to fix inflation.

And with the U.S. Department of State’s Rewards for Justice program offering payment for services in crypto, there is no doubt that the general attitude towards crypto in the government is slowly but surely changing.

Featured image from International Banker, chart from TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bounty (XBTY) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -80.95 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 XBTY

out crypto bounty million cyberattacks information foreign

out crypto → Результатов: 126


Will China Reconsider Bitcoin Exchanges in a Bid to Bank Big on Blockchain and Cryptocurrency?

China has announced its plan to bank big on Blockchain technology when the president of the country had a press briefing calling for the accelerated adoption of blockchain technology. Since the announcement there has been a surge of new developments coming out of China, first, they passed a crypto law keeping the launch of its […]

2019-11-4 21:48


Huobi Exchange To Stop Serving US Customers In Mid-November; Withdrawal Your Crypto Now

The vague stance towards the regulation of the cryptocurrency industry in the United States is gradually locking out more and more exchanges from operating in the country. Earlier in the year, Huobi exchange included a clause prohibiting US customers from trading on the platform on its Terms and Conditions, but a couple of traders have […]

2019-11-3 17:49


US Based Crypto Exchange, Kraken, Rolls Out Omisego (OMG) and Pax Gold (PAXG) Trading

Kraken, the World’s 12th largest Crypto Exchange, as per Coin360 states, recently added Ethereum based tokens, Omisego and Pax Gold, to its ecosystem. Its clients will now be able to transact the two tokens against fiat currencies like the Dollar and Euro in addition to Bitcoin and Ether crypto coins. The coin exchange whose headquarters […]

2019-10-29 16:16


Фото:

As Crypto Exchanges Exit the US, Which Trading Platforms Will Enter the Breach?

The U. S. remains a challenging environment for centralized cryptocurrency exchanges, with major players significantly scaling back their operations and others heading for the door. The most recent casualty of America’s stringent regulatory climate is one time market-leader Poloniex, which has “spun out” from parent company Circle, spinning out of the U.

2019-10-25 02:45


Mike Novogratz’s Galaxy Digital to Launch Bitcoin Fund

After Wednesday’s crypto crash that left bitcoin trading at the $7,500 level, many investors never thought they’d see this kind of buying opportunity again. Now market leaders are predicting that the BTC price could have further to fall before regaining its upward momentum alongside improving fundamentals, which if they’re right could play out before the […] The post Mike Novogratz’s Galaxy Digital to Launch Bitcoin Fund appeared first on CCN.com

2019-10-24 18:30


Фото:

Haasonline Rolls out New Features Aimed at Making Crypto Trading Easier to Automate

There’s never been a better time to start using a crypto trading bot than RIGHT NOW. The market has been trading sideways for quite some time which is where trading bots shine the most. The creators of the HaasBot have recently rolled out their drag-and-drop visual algo editor that allows anybody to quickly create functional […] The post Haasonline Rolls out New Features Aimed at Making Crypto Trading Easier to Automate appeared first on NullTX.

2019-10-25 17:00