Why is Liberty Reserve Down ; let’s panic !? |

Why is Liberty Reserve Down ; let’s panic !?

May 28th 2013 update : Your LR is lost, Libertyreserve.com was seized by US authorities for money laundering charges ( see June 3rd 2013 article ).

April 4th Update The website got back up at 12h40 New-York time, April 4th after three days down.

Let’s see if you know what I know about Liberty Reserve :

Ok, Liberty Reserve website is down, so you can’t connect and reach your precious e-currency. Big deal ! Do you really think that Liberty Reserve is planning to scam with fake problems ; like most HYIPs do? No way ! Or is Liberty Reserve really down forever ? After reading this article, you’ll better understand the  importance and the role of Liberty Reserve e-currency for you as a HYIP investor and throughout the whole market.

First, did you know that before LibertyReserve.com launched, the e-currency that every single HYIPs were accepting was e-gold.com ? When I started my ” online carreer ”  as a new HYIP investor, e-gold truly had the monopole over the HYIP market . When it crashed ( due to various court orders from the United States government ) , millions of people all over the world were trading with e-gold on a daily basis, just like with Liberty Reserve today. Can you imagine how much profitable the e-currency business can be if you become the major player ?

The men behind e-gold pleaded guilty and really, they didn’t have any other choices. If you own an e-gold account like me, I wish you could get your money out before it was too late back then! Wait… could this happen to Liberty Reserve  ?

Thanks to the relax economic regulations of Costa-Rica ( from where Liberty Reserve conducts its business ) , Liberty Reserve can’t go down for money laundering charges like e-gold did back in 2008. ( WRONG ! US authorities shut down LR on May 28th 2013 ! ) As far has I know, the tax haven of Costa-Rica ” protects ” LR from the grip of foreign authorities like the USA ( until now ), which was not the case for e-gold since it was operated from Florida without proper licences. Here’s an official note by Liberty Reserve back in 2007, when e-gold was facing difficulties :

November 19th 2007

Official LibertyReserve blog post

There are no M.L.A.T* treaties signed, or otherwise established between Costa Rica and the United States. HOWEVER, there are M.L.A.T* and cooperation agreements established and in force with the governments of the United Kingdom, Panama and many other countries. Unlike Liberty Reserve, which is registered in Costa Rica, any company that claims to be registered in Panama, United Kingdom or in any of the countries on the M.L.A.T* list is in fact in danger of being raided by US authorities and are just as vulnerable to unfair seizures as e-gold.

As you can clearly see, we stand behind our product, our service and our dedication to this business. We are proud of the outcome and the feedback that we receive from our customers.

*M.L.A.T – Mutual Legal Assistance Treaty

Allright, let’s now talk about you versus Liberty Reserve  :

Hé ! Imagine how high your Return on Investment would be today if you could have invested in that new e-currency business called LibertyReserve.com when it launched! Of course, you didn’t have the contacts, right ? Jokes apart, nobody really knew that it would be Liberty Reserve that would become the most widely used e-currency after the reign of e-gold but anyway, you would be rish by now. Let me tell you another fact :

Even if Liberty Reserve website is down as you read these words, it will be up sooner or later : you can sleep well on both of your ears ! Why? Mainly because for the long-term, it will  always stay much more profitable for the administrators of Liberty Reserve to keep their business alive, instead of closing the shop to hide in that island paradise of your dream.

In fact since no powerful and official agency regulates Liberty Reserve activities, tell me if I’m wrong there but I think they could theorically  scam all of us down , achieving a huge and instant benefit . All that without suffering much harm … However, why destructing such a great business instead of passing it to future generations? This can be discussed as well …pretty interesting reflection I must say…anyway!

December 21st 2012 won’t be the end of World and Liberty Reserve down time will be solved . The online HYIP investment market highly depends on user-friendly e-currencies like Liberty Reserve and really, a lot of people around the world earn a living from such virtual currency transactions ; you didn’t know ? I invite you to discuss all this with other HYIP investors and me on our new forum , here’s the link : http://hyip-blog-investment-monitor.com/forum/viewtopic.php?f=8&t=63

By the way as a HYIP investor in 2011, I recommend to spread your assets among Liberty Reserve and AlertPay ; diversification will always play an important role in your success ! Take a look at my private HYIP selection here.

Keep in touch, my next article will be about the legitimacy of most HYIP monitors you can find on the WEB.
Frank

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52 Responses to “Why is Liberty Reserve Down ; let’s panic !?”

  1. Mohi says:

    Liberty reserve operates under Costa Rica, Not under PANAMA!.
    You are wrong!

    • Frank says:

      Sorry for the mistake, when did they switch country ? Anyway, Costa Rica is always a Tax heaven so LibertyReserve enjoys a secracy and tax free revenues since it conducts its transactions internationnaly.

  2. saud says:

    Hello,
    Do you know why LR is went Down. They worth that because they do not respect there customers. The fact is that LR is stool the mony from there
    customer and i am one of there customer. I have the Proof that they stool from my accouent around 3000$.. I regret to deal with them.

  3. Dave says:

    I stay away from any hyip that dont use AP…Why should I pay commission to an exchanger to transfer from AP USD to LR USD, there is no currency exchange involved. USD to USD and pay a fee for it ??

  4. Ibm says:

    For me like what you have said.. Hope the downtime will recover by today…
    For me, if liberty reserve want to sell their company . I will the 1st person will take over this company..
    For me … E-currency is really make money… Every money in and out u will earn… Trading in e currency is still one of the best business in the world… Im sure they will recover soon…

  5. There is something that is not clear there. You said Liberty Reserve operate from panama while they operate from Costa Rica. Now do you still believe that one day LR is not going to scam ?!

    A lot of account has been hacked before.

    You should think about it twice guys….

  6. Ruthie says:

    I checked under WHOIS and found that their IP location is at Florida – Hollywood – Prolexic Technologies Inc. So LR is actually in USA! Where did you find out that they are in Costa Rica or Panama? I see no such locations associated to Liberty Reserve…..???!!!

    • Ruthie says:

      went to check further….yes it is indeed in costa rica but routing through usa IP :

      Administrative Contact:
      Yassine, Ahmed business@libertyreserve.cr
      Liberty Reserve S.A.
      1849 – 4050
      ALAJUELA 1000
      Costa Rica
      +506.88462868

    • Sergei says:

      Ruthie:

      In the book “Fatal system error” it goes deep into the business of malware an alike, there is a big part of the book covering just “Prolexic”

      To keep it short, many online casinos originating in Costa rica rely on Prolexic’s services which is ddos-protection, so traffic is routed through their servers so if an attack occurs they can mitigate it.

      The actual server of LR is not located in USA (as far as i know), but the first layer (a reverse proxy) is located at Prolexic for the reason mentioned above.

  7. nate says:

    I’ve never had an account with LR, so no worries for me :) I have though been hearing alot of good things about AP so as soon as I get around to it, I’m going to setup an account with them.I do agree that LR scamming isn’t very likely but the off chance of someone(s) hacking the site(maybe someone internally with LR),is a distinct possibility. it has happened in the HYIP business to even the most secure sites. so you never know…

    What a shock that would send through the HYIP world though IF liberty reserve funds have been compromised.

    That being said, I hope all turns out well for LR and its account holders.

  8. Jeff says:

    LR its down atm.

  9. Jeff says:

    Some one ,know fundofprofit.com

    I think they will SCAM … have like 3 days and not pay

  10. I don’t think this is a legal issue or scam issue. There are 2 reasons why I believe that it’s a purely technical issue and that the site will resume soon. First, the press release from Libertyreserve points to the back-up servers of the host which needs to be powered and reconfigured. It means that data e.g. user accounts and related information in Libertyreserve is not necessarily lost as Lr Admin must have the duplicates. In short, my own understanding points to problem with the host. Secondly, a news just came out on BBC homepage today that there is a massive attack on millions of websites. The attack was launched on March 29 but it has now been checked according to the report. Perhaps, Lr site was among those affected. If any or both of my takes are true, then there’s less cause for alarm because technical problems will be normally sorted out and the site will be up again soon.

  11. Hidden Identity says:

    the one claimed to identify himself as LR admin, why he mentioned nothing about the site status? and what gonna happen? :)

  12. Hidden Identity says:

    they will be back for sure, but when? they must define the time on the website.. million of customers waiting to know what happened to their accounts, and when there money will return.

  13. Investor Classy says:

    If liberty reserve goes scam what can one do to recover his or her money?

  14. softdina says:

    If LR tries to recover the money from scam sites then from will they try to recover the amount, will it be future transactions or all transactions so far done for the last many years?

  15. Hidden Identity says:

    LR admins must say a w0rd about what is going on.

  16. Mark says:

    I am coming to the conclusion that one big pointer about an HYIP (viability) is whether it is dealing through AlertPay. I have been burnt (scammed) and have yet to find an HYIP that pays. Interesting that none have PayPay accounts.

    At the moment have payment requests for 5 sites. Useless.

  17. Th3_uN1Qu3 says:

    Mark, HYIP type businesses are forbidden in Paypal’s TOS, if a HYIP had a Paypal account it’d get closed within days. Even some paid to click sites have had trouble with Paypal.

    I am not a HYIP investor yet but i have been following the market for quite a bit, and will probably get in this summer.

  18. gbemitte says:

    which weekend is Liberty Reserve is talking about that before then, they will be back online? is it the just concluded one or next weekend.

  19. me says:

    Liberty Reserve downtime update
    Posted on April 2, 2011 by admin

    Liberty Reserve issued a statement after 3 days of downtime. As was speculated, the issue is purely technical.

    “Thank you for your patience. We sincerely apologize for the prolonged delay. We appreciate your continued support as we are about to finish testing our replaced equipment. Please note that the issue is purely technical and poses no risk to your funds or personal data. Liberty Reserve will be back, as it always have been. We anticipate to finish up the configuration before the end of the weekend.
    Please note that once system is back up you may experience slight delays in accessing our system due to increased traffic.”
    Posted in News | Leave a comment

  20. Kenzo says:

    You guys are freak honeslty ….. You left the MAIN TOPIC and talking about where the damm LR main country :S:S
    Costa Rica … Equador … Sir Lanka … Who cares its ONLINE !
    Anyway i want this LR works coz all of my work deals with that thing :S Mneybooker doesnt accept with the sites which i deal with …

  21. angelo says:

    shut down by the Costa Rican/Panamanian/Russian/US/Martian governments

  22. Hidden Identity says:

    mm, they said before the weekend ends, but it passed 00:00 in alot of countries around the world, so when the site will be available?

  23. I think that,none of the online programs are trustworthy, whether it is a HYIP, or PTC, AutoSurf, Affiliate Program, MLMs, or Online-Banks, Currency Exchangers or whatever it is, there is no guarantee until you receive money on your hand, but at the same time we are all wasting our valuable time and also money on internet and current bills. So we have to be very careful in future.

  24. vivian says:

    Will LR disappler forever?

  25. vivian says:

    Will LR disappear forever?

  26. seby says:

    I am working in telecommunication for many years . So personally i cannot buy the routing replacement story …..any router in this world BGP or whatever would been replaced in 8 h max . SO they are just buying time with stupid site announcement . Unfortunately i have good money on them .

  27. Hidden Identity says:

    Yeah, they are g0ne.. :) – they’d say before the end of the weekend everything will be fine, but still nothing.. expect something to happens on 8:00 AM Coasta Rica’s Time, else the site will be down forever..

  28. chris says:

    someone pls tell me in confidence that all will b well cos am worried!

  29. Hidden Identity says:

    No one knows anything about the site status, unless what we see at the website blog itself

  30. Hidden Identity says:

    This will be the end of Liberty Reserve,

    After they fails, and starts to lie on customers, i conclude that LR will never be back online in the soon future..

    EveryOne will have to find another PAYMENT SYSTEM THAN LR.. as they fails to be back again..

    They Lie, or actually they’d give a promise and fails to improve it.

    Thank you all, and later.

    • Frank says:

      Put some water in your wine ; LibertyReserve went offline for around a week back in 2008 and they came back online to become the most widely used e-currency. A LibertyReserve collapse would be really surprising now in April 2011, after such success. Let’s keep some cold blood here ; it’s just money we’re talking about here right ;) ?

  31. vivian says:

    It seems LR is ok now

  32. Frank says:

    LibertyReserve.com is up and working perfectly guys. The website got back up at 12h40 New-York time, April 4th. My balance is intact ;) the website is pretty slow to load though due to high traffic at the moment.

  33. chris says:

    the site is going. just slow because of d trafic. so rejoice with the development

  34. me says:

    i can open only first page, (after i clear cache&cookies)

  35. WellWisher says:

    In my experience LR is not a trustworthy PayProcessor, and they always try to fool the customers by sending the confusing mails to members and try to gather the customer’s Account information. So be careful about the mails in your “Inbox” especially the mails which are related to your LR account and no doubt they will be a fishing one! or trapping one!

  36. venkatesh says:

    I investe 500$ to http://www.online-investments.net. After Investing website goes down. Totally cheaters. Its scam website, I dont know how to punish these type of companies.

    Their Office Address

    P.O.Box: 88389, Dubai
    United Arab Emirates
    Tel: 04-3242044

    Representations

    10835 Santa Monica Blvd # 207
    Los Angeles, CA 90025
    United States of America
    Fax: +1 (310) 4468155

    Pls be aware peoples.

  37. Don’t be surprise if LR choose to disapear one day. So as soon as you still have time, you should transfer your money from LR and live in LR only the one you need right now.

    LR is not safe.

  38. wiseman says:

    ha i love lr but why my money have lost oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

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