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RIP Liberty Reserve (7)

05-25-2013 09:05 AM #1 vipinext (Member)
RIP Liberty Reserve

Looks like liberty reserve is no more....

http://www.ticotimes.net/More-news/N...ay-May-24-2013

Website is down too...Hope all members of this forum did not had enough money there.

05-25-2013 09:22 AM #2 prateekdwivedi (Member)

Quote Originally Posted by vipinext View Post
Looks like liberty reserve is no more....

http://www.ticotimes.net/More-news/N...ay-May-24-2013

Website is down too...Hope all members of this forum did not had enough money there.
What? Suddenly? How come.

Ah never-mind, it was a home for scammers anyway!

05-25-2013 09:58 AM #3 vipinext (Member)

Quote Originally Posted by prateekdwivedi View Post
What? Suddenly? How come.

Ah never-mind, it was a home for scammers anyway!
Indeed!

05-25-2013 07:27 PM #4 pain2k (Veteran Member)

Bitcoin is already here though.

05-29-2013 07:43 AM #5 fjk87 (Veteran Member)

http://money.cnn.com/2013/05/28/news...sts/index.html for those who think about having money on this kind of anonymous payment systems. I'd be VERY careful in future.

05-29-2013 08:46 AM #6 mehdi (Member)

Unfortunately history doesn't serve as example, dozens of millions were lost with ePassporte, but still, people that don't declare their earnings always need these kind of semi-anonymous payment methods...



Mehdi

05-29-2013 09:16 AM #7 fjk87 (Veteran Member)

Quote Originally Posted by mehdi View Post
Unfortunately history doesn't serve as example, dozens of millions were lost with ePassporte, but still, people that don't declare their earnings always need these kind of semi-anonymous payment methods...



Mehdi
The problem here is that LR was kinda completely anonymous if done right. The excuse about using LR in countries where Paypal isn't available doesn't work in my book. Services like moneybookers are available in different countries too, odesk for online jobbers and all those options require confirmation of your identity.

With LR, if done right, until the withdrawal process, you stay completely anonymous. Even the withdrawal can be done anonymous if using agents which is the key here. I think the combo of being anonymous and therefore being used for a major part of cybercrimes ( just look at the carding forums, hacking/cracking websites ) all of them had LR as their payment of choice. With some logical mind, this was pretty easy to foresee in my opinion. It shows again that there is no safety in those online wallets unless they are officially licensed and require identity checks.

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