Liberty Reserve

What is Liberty Reserve?

Liberty Reserve was a digital currency service that was launched in 2006 and allowed users to transfer money online and store it in an e-wallet. It was marketed as a way for people to transfer money online without having to go through traditional banks, and it was particularly popular in countries where banking services were limited or difficult to access. The service was shut down by the US government in 2013 on the grounds that it was being used to facilitate money laundering and other illegal activities. The founder of Liberty Reserve, Arthur Budovsky, was arrested and charged with money laundering and operating an unlicensed money transmitting business.