Home
News
- The U.S. State Department is offering up to $10 million in crypto rewards
- Bounties offered under the “Rewards for Justice” platform
- Users were able to submit tips via an unsecured Wi-Fi network called #Rewardsnotransoms
The U.S. Government will be offering bounties in the form of crypto assets to incentivize white-hat hackers to uncover state-sponsored actors and potential terrorists on the dark web. The U.S. State Department is offering up to $10 million in crypto rewards to white hat hackers.
The rewards in the form of cryptocurrencies are for information relating to the operations of enemy state-backed hackers or suspected terrorists. Under the “Rewards for Justice” platform, The U.S. State Department permits informants to submit anonymous tips and information in return for rewards in digital assets.
The platform was being promoted at the Black Hat USA event. The Black Hat USA event ran from July 31 to August 5 in Las Vegas. Users were able to submit tips via an unsecured Wi-Fi network called #Rewardsnotransoms. According to CNN, this open network was set up to encourage attendees to log in and access the RFJ website.
Rewards for authentic and reliable information about terrorist suspects and state-sponsored hackers
The bounty could amount to up to $10 million for authentic and reliable information about terrorist suspects, extremists, and state-sponsored hackers. The suppliers of data have the option to receive compensation in the form of crypto assets.
The dark web is a layer of the internet that is commonly not publicly accessed by commercial companies and search engines. Informants furnish sensitive data via a secure portal on the dark web.
William Evanina, Former Director of the U.S. National Counterintelligence and Security Center, said the move by the U.S. Government is the first most public foray into crypto assets ever made.
The Biden administration accused hackers operating from Russia and China.
At the beginning of 2021, the Biden administration accused hackers operating from Russia and China of breaching multiple U.S. government agencies and departments. In June, hackers based in Russia and China had hacked the sites of the Colonial Pipeline system and asked and were paid $2.5 million in crypto assets as ransomware. However, U.S. officials were able to recover $2.3 million in cryptocurrency used to pay as ransom.
The RFJ program seeks to preempt such attacks by using ethical hackers’ relevant skills and expertise to obtain information about such players. State Department officials emphasized that cyber-enforcement operations are not quick and require days of patient cyber investigations. Tips that are received have to be evaluated and then shared with sister agency partners. The information must be thoroughly vouched before an investigation is commenced.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
