Saturday, May 25th was A very sad day for many internet marketers in Nigeria and indeed other parts of the globe as news filtered in that payment gateway, Liberty Reserve, had been shut down after U. S and Costa Rican authorities arrested founder Arthur Budovsky Balanchuk in Spain.
Unless you’ve been living under the rocks these past few years, you should know that Liberty Reserve was an online payment system under for making and receiving payments for goods and services online.
Unless you’ve been living under the rocks these past few years, you should know that Liberty Reserve was an online payment system under for making and receiving payments for goods and services online.
While you may have escaped incurring any loss in the recent Liberty Reserve shutdown – perhaps because your internet business has not grown to the extent of having to make and receive payment outside the shores of Nigeria – some who use Liberty Reserve to make and receive payments online were not so lucky as they have since been counting their losses running into several thousands of dollars as a result of sudden shutdown.
In one of the leading online website (eHackingnews.com) posts a reader, Jonathan Capistrano, who claimed to have contacted LR about the status of people’s funds was told that LR will not be closing down but just taking break.
He was told that Liberty Reserve will be back ‘new and better’ and that users funds will stay there, with no reduction or increase in value.
He was told that Liberty Reserve will be back ‘new and better’ and that users funds will stay there, with no reduction or increase in value.
Ifeanyi Uche says, ‘This is not the first time this kind of thing is happening. In 2007, eGold owned by Gold & Silver Reserve Inc, Australia, was shut down under similar circumstances and the CEO DR. Dauglas Jackson and Other principal owners were arrested.
“Did all that lost their funds and holdings in eGold get their money back? CAPITAL NO! the same will apply here because the company that owns Liberty Reserve as well as the owners have already been indicted to have engaged in criminal activities including money laundering.”
So, based on these past experience, Nigerian Liberty Reserve users would do better to kiss LR money goodbye and move on.
If you are reading this post and you are highly affected, never mind, this will guide you against losing your money in the future.
My Advice:
My advice to you is that, if Liberty Reserve will come back, good and fine, but if not, move on as my next post will be “How To Guard Against Losing Your Money in the Future" and some "Alternative To Liberty Reserve".
Peace!
It shall be well, move on!
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