Security News > 2020 > February > A Light at the End of Liberty Reserve’s Demise?

Prompted by assurances that the government would one day afford Liberty Reserve users a chance to reclaim any funds seized as part of the takedown, KrebsOnSecurity filed a claim shortly thereafter to see if and when this process might take place.

Federal officials charged that Liberty Reserve facilitated a "Broad range of criminal activity, including credit card fraud, identity theft, investment fraud, computer hacking, child pornography, and narcotics trafficking." The government says from 2006 until the service's takedown, Liberty Reserve processed an estimated 55 million financial transactions worth more than $6 billion, with more than 600,000 accounts associated with users in the United States alone.

The two stories I wrote about the closure of Liberty Reserve in 2013 remain among the most-read on this site, and have generated an enormous volume of emails from readers who saw many thousands of dollars held in legal limbo - much of it related to investments in online gaming platforms, payments to and from adult entertainment services, and various investment schemes.

The official said he didn't know how much money in total the government was seeking to return to former Liberty Reserve users.

If you filed a monetary claim in response to the Liberty Reserve seizure years back, you may have already been contacted by federal investigators, or you may be soon.

News URL

https://krebsonsecurity.com/2020/02/a-light-at-the-end-of-liberty-reserves-demise/