Since I launched my blog in 2010, about a dozen people contacted me to report someone took their LibertyReserve account down and emptied the funds. Someone could mysteriously reset their password. Finally
in all cases, my readers realised some fraudster caught them in a phishing e-mail or similar scheme. They naively thought the e-mail was an official communication from Liberty Reserve, while it was a disguise from a bold scammer. With these hard losses to assume, which could have been easily avoided, at least my readers gained experience . They adopted safe behaviors online especially with their e-mail accounts. They are now happy LR customers. DO NOT CLICK LINKS ! Do you remember your mom saying : ” Don’t trust strangers ” ?
Some individuals in forums recently suggested that the security breach ( if we can trust the honesty of the thread ) is coming from the LR side, not from the users’ bad behaviors. More precisely, from a current or retired LR worker who decided to butter his wallet by stealing people using a secret access. Maybe from a talented hacker ? Maybe LR itself ? Impossible is nothing.
My imagination pushes me further to an eventual collusion within our dear and very lucrative e-currency market. That would be to kick in the nuts of Liberty Reserve in forums and at the same time, praise for the new kid on the block : Asian Reserve . By the way, it will need several months to prove its value but it shows a good potential for success. You’ll recognize the LR feel to it. Anyway, back to our sheep!
Seriously, I wonder why this hypothetical March 2012 crook is not aiming at active LR accounts , which are known to the wide public. Forum posters are mentioning victims such as some unknown exchangers and a couple private accounts , which seems to get hacked over and over again. This is not serious. Or the crook wants to go unnoticed with his fraud… do you think ?
Tell me : if you were to start stealing people’s money , wouldn’t you choose your victims ? In short, how to steal as much as possible ? HYIP accounts would be good targets. Paid-to-surf, JSS Tripler, HYIP monitors, blogs and forums offering ads would probably do the trick for a paid vacation with the kids. Successful thieves tend to enjoy sunny paradises ; have you visited the Cook Islands already ?
Liberty Reserve has too much to lose . They can’t afford to lose our trust. We’re talking about big $$$ !
If LR users can’t protect their e-mail accounts , LR needs to do something about it. Believe it or not, several people surf the net unprotected and with risky behaviors. On the other hand, if the popular e-currency is facing corruption from the inside, I’m confident they’ll solve the problem efficiently as their business could be compromise. Of course and again, some dishonest fools could be spreading false rumors of a ghostly leakage in the LR security system. That would be just wrong to do !
Even then, I personally stay comfortable with the funds I have in my LR account. This situation is not serious enough for me to transfer that money into another e-currency. I’ll update if I get hacked.
Stay tuned or get your free subscription to our online investors’ community. You’ll probably make more money online by keeping in touch with us. Oh and if you want to know, I’m waiting for replies from AlertPay and finCEN concerning my last article about the new US legislation for e-currencies.