LibertyReserve exchangers domains seized, PerfectMoney next on the target? RSS - comments

exchange seizedThe e-currency world is still in the shock after unannounced seizure of Liberty Reserve domain and their server and after arresting the owner - Arthur Budovsky Belanchuk.

But this is not the only effect of the recent US goverment actions. They claim also that not only LibertyReserve is responsible for money laundering, but exchange services too. I'd like to remind that funding and withdrawals of LibertyReserve were only possible by means of exchange services. In US gov. opinion, this is the reason of their shared responsibility and Liberty Reserve's exchangers maitained direct financial relationships with LR. They were registered in such countries like Malaysia, Russia, Nigeria and Vietnam and they operated without a financial license. Their responsibility based on the fact that without exchangers there would not have been money for LR to launder and they help to keep a better anonymity for cyber criminals. They also work in conspiracy with LR.

Source

Here is the list of blocked exchangers' domains:

Wm-center.com, e-naira.com, ecardone.com, ebuygold.com, getemoney.com, epaymonster.com, instantgoldng.com, jtgold.com, goldnairaexchange.com, superchange.ru, webmoney.co.nz, m-gold.com, goldmediator.com, absolutexchange.eu, mewahgold.com, centregold.ca, electrumz.com, tukarduid.com, entelnova.com, tacoauthorized.com, intexchange.com, ukrnetmoney.com, wmirk.com, nigeriagoldexchanger.com, edealspot.com, duyduychanger.com, magnetic-exchange.com, moneyexchange.vn, abc-ex.net, mi-billetera.com, nicciexchange.com, exhere.com, alertexchanger.com, velaexchange.com, goldexpay.com

But so far only .com domains were seized.

As the fight of U.S. government against cybercrime can be understood, it is overused the situation, when legal exchange services and their domains are seized.

On what grounds the U.S. government did claim that these services operate in the conspiracy with LR? Why did they also blocked ecardone.com domain which belongs to a legal and licensed EU company? Fortunately, Ecardone is working under a new domain: dagensia.eu

But there are more questions: why does US gov. occurs here as a world government which has the right to arbitrarily block a domain of any website in the world? After all, the effects of this block did not affect only the U.S., but every country in the world.

This practice may result that other domains which are uncomfortable for the U.S. government can be blocked on their request. Because they can also accuse all LR users that they promoted LR development, arrest them and say that without them LR would not have obtain their evil intentions :)

In our opinion these practics are very dangerous and they affecting in the freedom of economic activity. Moreover, there are no hard evidences (at least the U.S. government did not provide such) for criminal activities of exchangers.

The biggest victims of the whole situation are average and honest LR users who have nothing to do with cyber crime, and who have lost access to their funds.

After seeing what happened to LibertyReserve, the second payment system (most competitive payment processor for LR and the natural successor of LR users) – PerfectMoney – has reacted very quickly to the situation. It is difficult to assess if these changes are due to panic or preventative. As soon LR CEO was arrested, Perfect Money has blocked new registrations from US citizens. Several days later, PM has changed the name od their domain from perfectmoney.com to perfectmoney.is (Icelandic local domain) and they put a new mailing address:

Unit 1213, 12/F, Wing On Plaza, 62 Mody Road

Tsim Sha Tsui East

Kowloon

Hongkong

 

It is worth to notify our old article about PerfectMoney speculations: http://www.money-monitor.com/article/view/page/22/slug/speculations-about-perfect-money--russian-scammers-or-black-public-relations

One could also find this update on PerfectMoney website:

„In an effort to improve the brand recognition of our payment processing system, we have decided to change our domain name to Perfectmoney.IS We kindly ask our customers to take note of the new Perfect Money domain name. This is important and will help you avoid visits to fake web pages that were created for malicious purposes. Please do not use search engines; simply enter Perfectmoney.IS manually in your browser's address bar.

Our extensive real-time rating system and fraud prevention tools will soon be available to our customers. The new system will include a completely new Peer-to-Peer rating system designed to improve our customers' level of awareness. P2P rating and additional tools will provide reliable information about accounts within our system, thus minimizing the risk of fraudulent activities.

Perfect Money actively seeks and blocks accounts that violate our Terms of Use. This new tool will enable our customers to report potential violations, thus assisting Perfect Money's anti-fraud department in its efforts.

At the moment, the Perfect Money anti-fraud department is able to identify and monitor up to 95% of accounts that were created for fraudulent purposes and block them before a crime has been committed. Armed with new capabilities we, together with our customers, will improve the above stated statistics and transparency of financial operations!

The introduction of the new system marks the completion of the Perfect Money corporate restructuring process: following lengthy but constructive negotiations, we have concluded our merger with Startup Research and Investments, a company that has made a multi-million investment in the development of our IT infrastructure and marketing system. Startup Research and Investments specializes in acquisition and subsequent development of innovative, high-potential information technology businesses. The company has extensive management and technological know-how, that when combined with expertise in corporate affairs, is beneficial to online businesses. The merger provides Perfect Money solid legal basis with assistance from a holding company. It also enables us to speed up the development of Perfect Money e-currency while introducing our services to new markets. We are confident that the merger will enable Perfect Money to provide even better services to our customers.

The Perfect Money team does its best to elevate customer experience to a new level. We believe that every upgrade brings us one step closer to our goal – the perfect financial tool!”

 

We don't know how much these actions would be effective, but we recommend you to not keep a large deposit on payment systems, since their activity is the subject a turmoil.

 

 

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