We are all wonder, what happened with Liberty Reserve, they got hacked, any legal action taken by Government. well let me clear there is still not any official news from Liberty Reserve or any most reliable source. Over internet every one have different views, some people thinking that Liberty Reserve is hacked, some said its taken down by government and few believe that LR scam now.
Its not the first time that Liberty reserve is down, its happened lot of times before with or with out official announcements. In 2012 even their website was down for more than 7 days.
Will Liberty Reserve shut Down forever ?
I have some friends on different community forums, one of them is very active in Payment Processing or E-money exchange stuff. He next have some contacts in Spain and Costa Rica. So from his friends he confirmed that, The news about an arrest of LR owner and the guy involved running LR, was confirmed through local print media. So the news is real people. Still its not official and not fully verified.
Its also true that USA Government have eyes on on different payment processors and LR is on the list. Because these payment processors or not under MSP (Money
Service Provider) Status, So transactions done with these companies may consider as Money Laundering.
Well its Saturday and tomorrow is Sunday, So many companies are closed on weekends, I suggest you all to wait till Monday for confirm news and real story behind this.
Future of Liberty Reserve ?
At the moment we can not predict any thing, until we know true story behind this issue. Nobody knows, Will it be allowed to get back online but with new rules ? Will LR officials hire good lawyers and get back online ?
They might get back online but block most accounts or hold majority of accounts and leave some open ? Who knows.
I don’t know Whether LR is gone for good or not but the thing i know is that I will lost up to $4000 (4 lac Rs) and lot of business. Of course not only me but millions of other users and exchanger may loss millions of dollars and think nobody can make any claims otherwise unless they have a time machine.
Internet world is crazy, any thing can be happened any time for any reason.
Well future of Liberty Reserve looks dark now, If LR manages to get back online than many user will be using it to get their money out and may stop using it. Perfect Money runs similar to LR and is targeted next. It is the most bad news in 2013.
26-05-2013: Recent update on Liberty Reserve situation
Last day I reported about the recent governmental crackdown on the Liberty Reserve, Today I confirm from different reliable resources that the News about the arrest of the people behind Liberty Reserve is True.
In 2011, Costa Rica’s financial regulatory authority, the Financial Institution Superintendency (SUGEF), closed Liberty Reserve, citing a lack of transparency and accounting of funding sources, However, Budovsky continued operating the company.
Police or related authorities arrested Liberty Reserve owner and seized computers, phones and documents from his home and office. I wonder if they start world wide arrests, as now they have database and all details of LR users.
Everyone (Specially members from USA) who was involved with HYIPs, Ponzi Scheme and other criminal online activity should start to seriously worry now.
This is the news that came up with the video (thanks to donothingmoney for translation):
This condominium (the one seen on the video) located in Santa Ana has been part of a series of raids that were conducted by the “OIJ” money laundering division in conjuction with the D.A. against organized crime.
The diligence was conducted in Spain after a man by the name of Arthur Budovsky with Costa Rican nationality was arrested.
Him and another ten person are being investigated for multinational electronic fraud in the range of several millions of dollars, the investigation was on going since 2011.
In Costa Rica servers, documents, computers and telephones were seized. On top of that vehicles Roll Royce and Jaguar valued at a bit less than half of million us dollars.
… The case remains open in Costa Rica and the assistance of the United States has been requested. In this case it was the United Sates who asked to international collaboration to do these raids.
Officials have not commented on how much money Liberty Reserve accounts handled, nor how many clients are affected by its closing.