There are four 3-link chains. All you have to do is join them into a big 12-link chain. For joining two closed links, one of the links must be cut and placed onto the other link for closing.
How many minimum links will you have to cut to make the big chain?
In 2007, a puzzle was released and $2 million prizes were offered for the first complete solution. The competition ended at noon on 31 December 2010, with no solution being found. Wiki