U.S. feds shut down Liberty Reserve

siljaline · May 28, 2013

U.S. feds shut down Liberty Reserve, DoJ calls it ‘bank of choice for the criminal underworld’

Digital currency business Liberty Reserve has been shut down, the U.S. Attorney’s Office confirmed today in an indictment that charges the site’s operators with various criminal activities.

This past weekend, we covered the first reports that Liberty Reserve founder Arthur Budovsky was arrested and that Liberty Reserve had been shut down. The site stopped operating on Thursday. As of today, Liberty Reserve’s website now directs to a static image saying it has been seized by “the United States Global Illicit Financial Team in accordance with a seizure warrant obtained by the United States Attorney’s Office for the Southern District of New York.”
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http://venturebeat.com/2013/05/28/liberty-reserve-shut-down-indictment/

See also: http://krebsonsecurity.com/2013/05/u-s-government-seizes-libertyreserve-com/ See also: http://arstechnica.com/tech-policy/...lleging-billions-in-money-laundering-charges/
See also: http://www.wired.com/threatlevel/2013/05/liberty-reserve-indicted/ https://twitter.com/KimZetter/status/339438725136265217

TheKid7 · May 30, 2013

Digital currency Liberty Reserve shut down by US governement:

http://nakedsecurity.sophos.com/201...-liberty-reserve-shut-down-by-us-governement/

Dermot7 · May 30, 2013

Following the U.S. government’s seizure this week of virtual currency Liberty Reserve, denizens of the cybercrime underground collectively have been progressing through the classic stages of grief, from denial to anger and bargaining, and now grudging acceptance that any funds they had stashed in the e-currency system are likely gone forever. Over the past few days, the top discussion on many cybercrime forums has been which virtual currency will be the safest bet going forward?
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https://krebsonsecurity.com/2013/05/underweb-payments-post-liberty-reserve/

ronjor · May 30, 2013

Anonymous Payment Schemes Thriving on Web

By NICOLE PERLROTH

SAN FRANCISCO — Eight years ago, Ernie Allen, the head of the International Center for Missing and Exploited Children, called the heads of major banks and credit card companies. Why, he wanted to know, were they letting child pornographers move illicit profits through their systems?

And so began a collaboration between his organization, major banks, credit card companies, Internet service providers, payment processors, and Internet companies like Google and Microsoft. They had hoped to follow the money and quash child pornography for good.

But at some point the money trail went cold. For the last year, Mr. Allen has been working with global law enforcement and financial leaders to find out why.
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https://www.nytimes.com/2013/05/30/technology/anonymous-payment-schemes-thriving-on-web.html

luciddream · May 31, 2013

Thanks for the heads up gentlemen...

Bad news though. VPN vendors should respond by accepting cash.

Mman79 · May 31, 2013

See? Digital currency and its trading/exchange isn't untouchable. If the Feds want to do something bad enough, they'll find the way.

siljaline · May 31, 2013

Your welcome, this was and is interesting.

luciddream said:

Thanks for the heads up gentlemen...

Bad news though. VPN vendors should respond by accepting cash.
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