Liberty Reserve Shut down

[Benson Samuel]

http://bitcoinmagazine.com/liberty-reserve-shut-down-for-money-laundering/

[nagatlakshmi]

What about our holdings?

[americandesi]

http://bitcoinmagazine.com/liberty-reserve-shut-down-for-money-laundering/

I saw this too.! I came to the forum to post the details but i saw your post.! This was a co-ordinated effort of 17 countries.
The main reason quoted by the feds are that the sender and buyer were opaque and the transaction was anonymous.!

It is reported that it surfaced in many high profile crimes including the recent $45 million dollar loot through ATM machines.

The best part is that Liberty Reserve was incorporated in Costa Rica in 2006 by Arthur Budovsky, who renounced his United States citizenship in 2011, and was arrested in Spain on Friday. So US officials arrested a guy / closed a company which did not have anything to do with US (unless the US citizens were using it) Something to ponder upon.

By reading the reasons quoted by IRS, it feels like all those reasons apply to a normal bitcoin transaction as well.

[americandesi]

http://www.forbes.com/sites/petercohan/2013/05/29/after-liberty-reserve-shut-down-is-bitcoin-next/

[Pinwheel]

http://bitcoinmagazine.com/liberty-reserve-shut-down-for-money-laundering/

The best part is that Liberty Reserve was incorporated in Costa Rica in 2006 by Arthur Budovsky, who renounced his United States citizenship in 2011, and was arrested in Spain on Friday. So US officials arrested a guy / closed a company which did not have anything to do with US (unless the US citizens were using it) Something to ponder upon.

US citizens been using LR a lot. 200K users from US. there is indictment posted on net somewhere, very interesting read

[Benson Samuel]

Any numbers on India users?

[Pinwheel]

Any numbers on India users?

not what I've seen
search for this file liberty-researve-cats-marmilev.pdf many interesting details.

compared to the way LR structured their operations, bitcoin exchanges in their childhood, somebody gonna pay and wake up. Mtgox already paying, wait not so much time left, we will see them on the move from Japan.

this pink childhood dreams, bout how world governments embracing bitcoins gonna cost someone.

[Benson Samuel]

Both the signatories on the pdf seem like Indian names.

Preet Bharara & Jaikumar Ramaswamy. Sigh....

[Pinwheel]

Both the signatories on the pdf seem like Indian names.

Preet Bharara & Jaikumar Ramaswamy. Sigh....

that was not me

[buysellbitcoin]

Both the signatories on the pdf seem like Indian names.

Preet Bharara & Jaikumar Ramaswamy. Sigh....

that was not me

Lol

[americandesi]

Both the signatories on the pdf seem like Indian names.

Preet Bharara & Jaikumar Ramaswamy. Sigh....

Isn't Preeth Bharara and Jaikumar Ramaswamy the IRS attorneys.?
I remember seeing their interviews on TV

[Benson Samuel]

Both the signatories on the pdf seem like Indian names.

Preet Bharara & Jaikumar Ramaswamy. Sigh....

Isn't Preeth Bharara and Jaikumar Ramaswamy the IRS attorneys.?
I remember seeing their interviews on TV

Not sure. First time I have heard of em.

[legendster]

Any numbers on India users?

Trust me there are atleast 100k users in India who do forex trades based solely on LR.
Even I opened a LR account JUST so that I can start funding my trading account.

[skysnap]

I have lost more than 100 USD in LR. I know that there are many other indians who lost more. I am moving towards Payza and BTC now.

[escrow.ms]

I have lost more than 100 USD in LR. I know that there are many other indians who lost more. I am moving towards Payza and BTC now.

Payza is fine but beware from chargebacks and fraud funds, they can lock your account anytime.

Ps: Check webmoney too (http://wmtransfer.com)

[skysnap]

I am not sure if webmoney has any exchangers for india. That would be another thing to see.

edit: just realized you have one link to exchanger in footer.

[escrow.ms]

I am not sure if webmoney has any exchangers for india. That would be another thing to see.

edit: just realized you have one link to exchanger in footer.

I do webmoney exchanges myself and you can use many exchange sites as well like the one i have in my signature, you can also withdraw your money to bank account like paypal.

There are 2 more currency systems which are popular with indians if you don't know.

1. Perfectmoney
https://perfectmoney.is

2. Skrill aka moneybooker
https://www.skrill.com/app/

[skysnap]

Thanks, perfectmoney looks better alternative. I can't say anything about skrill because they are now charging yearly fees.

[legendster]

Thanks, perfectmoney looks better alternative. I can't say anything about skrill because they are now charging yearly fees.

Are they ? I dont think so.

And PM has their own little loans section, which I think is pretty neat but useless.

[skysnap]

Sorry the dormant fees applies to the accounts that has no transactions for 18 months.