Riot's anticheat, Vanguard, is a pretty sturdy system in the world of competitive multiplayer online gaming. Well, it would have to be—otherwise, Riot probably wouldn't offer $100,000 to anyone who could seriously pick it apart.
The bounty system has been in place pretty much since Valorant was first launched a few years ago, but the idea still stands, and also seems like a great way to make a quick buck—if you're smart enough. It's all part of a continued effort to strengthen the anticheat software.