2013-05-28 Reuters: US Busts Bitcoin-Like System Liberty Reserve in Costa Rica

[ukuna]

http://www.cnbc.com/id/100769961

[1713902201]

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[vokain]

Well that took awhile.

[kjlimo]

link bucks?  I have to pay for information?  

Let me know when the US press picks up on this story.

EDIT: http://www.cnbc.com/id/100769961

someone on Reddit thinks CNBC is wrong...

http://www.reddit.com/r/Bitcoin/comments/1f7ivt/us_busts_bitcoinlike_system_liberty_reserve_in/

[Micon]

http://www.washingtonpost.com/business/feds-in-ny-charge-7-in-6b-digital-currency-money-laundering-case-costa-rica-spain-arrests/2013/05/28/2f1f7ca8-c79f-11e2-9cd9-3b9a22a4000a_story.html?Post+generic=%3Ftid%3Dsm_twitter_washingtonpost

"United States Global Illicit Financial Team"

I'll bet that group isn't one for jokes

[Piper67]

To paraphrase: Liberty Reserve is like Bitcoin like abstinence is a sexual position, or bald a hair colour.

[aigeezer]

link bucks?  I have to pay for information?  

Let me know when the US press picks up on this story.

EDIT: http://www.cnbc.com/id/100769961

someone on Reddit thinks CNBC is wrong...

http://www.reddit.com/r/Bitcoin/comments/1f7ivt/us_busts_bitcoinlike_system_liberty_reserve_in/

From the CNBC story: "The most widely known digital currency is Bitcoin. Liberty Reserve's currency was not connected to Bitcoin."

Despite that, the bulk of the story is a heavy-handed smear of LR and BTC. It reads like an LR prosecutor's over-the-top press release hastily adapted to take a swipe at BTC. It opens with the phrase "Bitcoin-like" (huh?) in the title and closes with "Over the past week, a Bitcoin unit has traded at around $130" even though they have already said the LR currency was not connected to BTC.

Somebody has an agenda.

[Grinder]

Somebody has an agenda.

Maybe they've realized they'll get a bunch of extra clicks if they mention Bitcoin in articles.

[ArticMine]

Here is the Reuters link without the linkbucks junk.

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

... and some more links from Reuters on Liberty Reserve all of course without the linkbucks junk

http://www.reuters.com/search?blob=liberty+reserve

[aigeezer]

Here is the Reuters link without the linkbucks junk.

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

... and some more links from Reuters on Liberty Reserve all of course without the linkbucks junk

http://www.reuters.com/search?blob=liberty+reserve

Thanks for that. It's much less hostile to BTC than the CNBC version, except for a mild jab at the end of the piece.

[aigeezer]

Somebody has an agenda.

Maybe they've realized they'll get a bunch of extra clicks if they mention Bitcoin in articles.

I hope you're right and it's just "nothing succeeds like excess" journalism rather than something more sinister. I've just seen the Reuters link posted by ArticMine and it seems much more balanced to my eye.

The CNBC version irritated me so much that I... wait for it... bought the latest Humble Bundle on impulse without even looking at the titles, just so I could pay with BTC. Muhaaahaaa - sweet revenge. Actually the transaction felt surprisingly good as a symbolic gesture, and on checkout I noticed that they make it easy to spread the word about paying with BTC if you have social media accounts. I hope it goes mega-viral for them. Out with fiat, one little game bundle at a time.       

[StarfishPrime]

Unfortunately for Liberty Reserve, Mr. Holder probably won't consider them "too big to prosecute" as he did HSBC and Wells Fargo/Wachovia who collectively laundered 100's of billions for the mexican cartels, and continue to do business as if nothing ever happened.

It's anyone's guess who's next...

US officials: “The global enforcement action we announce today is an important step toward reining in the 'Wild West' of illicit Internet banking...."