U.S. government offers $10 million in cryptocurrency rewards
The U.S. State Department has offered crypto rewards of up to 10 million U.S. dollars in exchange for actionable information about cyberattacks carried out by foreign governments. This will be the first time the US government has accepted the use of cryptocurrency to pay for the services provided.
The proposal was made through the U.S. State Department’s Judicial Rewards Program, which is managed by the Bureau of Foreign Security. Because certain network operations targeting critical U.S. infrastructure may violate the Computer Fraud and Abuse Act (FCAA), the State Department is working hard to take measures before an attack occurs.
These attacks include, but are not limited to, transmission of ransomware threats as part of a ransomware attack, deliberate unauthorized access to a computer, or unauthorized access. In this case, the attacker will obtain information from the protected computer, and they can use this information to transmit programs, information, code, or commands. Therefore, using this access right causes damage to the protected computer.
How will the ransom be paid
The US State Department explained that they have established a notification reporting channel using the dark web (based on Tor) to ensure the safety and security of sources and to ensure that they are protected.
The U.S. State Department’s Judicial Rewards Program is also working with other agency partners to ensure the privacy of information and ensure the timely processing of incoming information.
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To ensure this, the US State Department also stated that reward payments may also include cryptocurrency payments. This is not a good way to ensure the privacy of journalists is to pay with digital assets, as this will ensure that the attacker cannot track who the payment is made to.
According to a CoinDesk report, a State Department spokesperson confirmed that this will be the first time that the program will provide encrypted payments.
This marks the first time that the Justice Rewards Program has provided cryptocurrency reward payments since its establishment in 1984.
The U.S. government and cryptocurrency move forward
The possible digital asset payments provided by the Rewards for Justice program show that the adoption of cryptocurrencies is moving in the right direction for the industry.
One problem that has always existed in the encryption field is that the government has been strongly opposed to digital currencies. Many countries ban encrypted transactions.
Recently, China has launched a large-scale mining attack on China, which happens to be the world’s mining capital, and more than 70% of the mining is done in China. Similarly, the government has ordered banks and financial institutions to stop cryptocurrency transactions in the country.
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But El Salvador makes Bitcoin a legal tender Other countries interested in doing so show that the adoption of cryptocurrencies is becoming more and more realistic.
U.S. government politicians also began to express support coinUS Mayor Scott Conger posted on his Twitter account that he believes Bitcoin will help solve inflation.
With the U.S. State Department’s Judicial Incentive Program offering payments in cryptocurrency, there is no doubt that the general government’s attitude towards cryptocurrencies is slowly but surely changing.
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