liberty reserve

Dennis Faas's picture

'Liberty Reserve' Currency Exchange Closed Down

U.S. authorities say a website that allowed users to convert money into virtual currency was a front for money laundering operations. The Liberty Reserve site was shut down amid claims it helped criminals 'clean' more than $6 billion dollars. The ... site, which is based in Costa Rica, billed itself as an easy way to transfer money to people, regardless of their location. Unlike PayPal, Liberty Reserve didn't process direct payments between people. Instead, users could convert their cash into either 'Liberty Reserve Dollars' or 'Liberty Reserve Euros,' which were tied to the value of the real- ... (view more)

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