A new challenge to try to “break” the privacy of Monero and the transactions that run over the Bitcoin Lightning network is underway. The challenge Hacking Monero is inviting developers and programmers to offer solutions that allow these types of operations to be traced.
As an incentive for participants, the organizers offer up to 1.5 million dollars in bitcoin (BTC) for those who develop an innovative proposal. The objective is to provide technical information, algorithms and codes so that users can track the entries and exits of operations, as reported through the initiative’s website.
“We are looking for innovative solutions for tracking and attribution of privacy cryptocurrencies and off-chain second layer transactions. (Among those are 🙂 the expert tools, data, source code, algorithms and software development services to help users carry out their mission when it comes to cryptocurrency privacy technologies. highlighted about the call.
Interested parties must complete a form in which they must provide the following information: name, company, email, private GitHub repository address, username, password and a bitcoin address.
The approaches proposed by the developers must comply with at least one of the six guidelines set out for the challenge. In other words, promoters seek solutions that serve to: detect specific user operations and differentiate them from mixers or multi-signature services; identify details such as date, time and amount of funds sent / received; and statistical probability for other transactions.
The other three features include: allowing the association of users’ public addresses with addresses stealth (stealth redirect), counteract obfuscation attempts, and develop an application for transaction tracking on second-layer protocols such as the Lightning network.
Attempts to disassemble the privacy of Monero
The project Hacking Monero is the most recent initiative to try to dismantle the privacy of Monero, its main flag of use. It also aims to identify operations running on the Lightning network, a development proposal on Bitcoin that uses payment channels for instant transactions.
In the past, auditors such as the United States Revenue Service (IRS) have opened calls to track operations on Monero and the Lightning network. CriptoNoticias reported in September of this year that the agency was offering $ 625,000 for a solution that would allow them to detect transactions.
Most recently, in October, it was reported that the IRS had hired the companies Chainalysis and Integra FEC to increase their control over cryptocurrencies and transactions executed on Monero, Bitcoin’s Lightning Network, and Ethereum’s Raiden. The contract was for $ 1.25 million.
While all this happens, the project continues its development. In September, Monero updated its client called Oxygen Orion which allows for faster verifications and smaller transactions. At the time of writing, the cryptocurrency’s price was $ 119.10 per unit, according to the CriptoNoticias price index.
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Trained to spy on Monero and the Lightning network? You could earn $ 1.5 million