You might remember about Liberty Reserve, the web site enabled people to send and receive money just like Paypal. But there was a problem with Liberty Reserve, it is that LR was mostly used by Cyber criminals. I know that there were people who used LR for genuine purposes but LR was the most famous currency among the hackers and pirates.
3 days ago Liberty Reserve’s founder and CEO Arthur Bodvosky belanchuk got arrested over in Costa rica because of the ongoing allegations about money laundering. And site is offline and pointing to different name servers. There aren’t any FBI notices or anything when you visiting the home page. Its just not available. Long time Liberty Reserve users knows that this is not the first time that Liberty Reserve owner got arrested but this time its hardly unlikely that LR will come back. People seems to lost thousands of dollars thanks to this raid. Read the comments on this venturebeat.com article.
Bitcoin seems to be capitalizing on this incident as people are moving in to bitcoin for their shady deals. Bitcoin price climbed up a little bit after this incident and now its at $134 average on mtgox.
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