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LibertyReserve.com Shuttered, Founder Arrested In Spain

Posted by samzenpus on from the long-arm-of-the-law dept.

hypnosec writes "Libertyreserve.com has been shut with the founder arrested by police in Spain this week over his alleged involvement in money laundering. Libertyreserve.com has been down for over three days now and the arrest seems to be the reason behind the outage. Arthur Budovsky Belanchuk, a 39-year-old male, has been arrested by Spanish authorities as a part of their ongoing investigations into money laundering. U.S. officials may very well seek his extradition."

1 of 138 comments (clear)

  1. bitcoin story by slashmydots · · Score: 1, Troll

    This is 100% because of bitcoins. It's probably realistically 50% because of money laundering and 50% because feds in multiple countries want bitcoin to go away. Unfortunately LR and Dwolla were the two major ways to fund bitcoin exchanges without using EFTs. I think the other major way is Bit Instant and I'm not completely sure how they work exactly. I know they're super protected and designed with anonymity and anti-shutdown designs from the get go.