Well that's a bummer.  I was kind of exited about them.  I'm glad that it shutdown before I put any money in at least.  Sucks for everybody else though.

Even Clixsense was using LR so it was a pretty popular program

moneymarketing wrote on 25^th May, 2013 at 4:26pm:

Listen, if you're going to stick around, try to do something constructive, no need for you to add on to the negativity.

dansbanners wrote on 26^th May, 2013 at 4:43pm:



Since when is telling the truth adding to the negativity?

I suppose we could all sit around and be Polyannas and pretend that this industry does not do a good job of hurting a lot of innocent poor people. I'm getting sick and tired of seeing people be burned for no other reason than that they want to do a little better in life and maybe help out their families

moneymarketing wrote on 26^th May, 2013 at 5:25pm:

Alright, perhaps what I said was a little harsh. If I had to do it again, I would have said something along the lines of:

"Try to focus on making a good use of the forum. And perhaps, maybe also cool it a little on the negativity".

Keep in mind that the forum was opened with the intention of trying to make a good use of it or to possibly help one another to grow or do some team work, etc.

Purporting a "I'm quitting internet marketing and perhaps others should do the same" ain't going to cut it. Just saying it constructively.

It's not that hard to understand. There's no direct LibertyReserve bank account. Everything is made through exchangers. People transfer money to the bank account of the exchanger, which in turn transfers money from their LR account to the user's LR account.
Considering that these exchangers often work with a butload of currencies, it's impossible for that banks to determine if someone bought LR, Payza, Bitcoin, or whatever. Adding this to LR's confidentiality policies (that site had more security layers than an onion) and it makes a nice vehicle for money laundering.

U.S. accuses currency exchange of laundering $6 billion



By Emily Flitter

NEW YORK | Tue May 28, 2013 6:28pm EDT

(Reuters) - U.S. prosecutors have filed an indictment against the operators of digital currency exchange Liberty Reserve, accusing the Costa Rica-based company of helping criminals around the world launder more than $6 billion in illicit funds linked to everything from child pornography to software for hacking into banks.

The indictment unsealed on Tuesday said Liberty Reserve had more than a million users worldwide, including at least 200,000 in the United States, and virtually all of its business was related to suspected criminal activity.

U.S. Attorney Preet Bharara called the case perhaps "the largest international money laundering case ever brought by the United States."

"Liberty Reserve has emerged as one of the principal means by which cyber-criminals around the world distribute, store and launder the proceeds of their illegal activity," according to the indictment filed in U.S. District Court for the Southern District of New York.

Officials said authorities in Spain, Costa Rica and New York arrested five people on Friday, including the company's founder, Arthur Budovsky, and seized bank accounts and Internet domains associated with Liberty Reserve.

The indictment detailed a system of payments that allowed users to open accounts under false names with blatant monikers like "Russia Hackers" and "Hacker Account."

more......


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