You are probably using Libertyreserve as e-currency. We will explain you why your money is AT RISK and why you should remove your funds from this system run by a team of international scammmers.


* As told on their website, the President of Liberty Reseve is supposed to be "Amed Mekovar". Some research in Costa Rica through our contacts in various administrations show that Amed Mekovar is in fact Ahmed Yassin, citizen of Morocco, living in Costa Rica with a residency permit. Interesting to know that this one is prosecuted in Morocco for many scams, and is even under investigation in Costa Rica per request of the US authorities.

So the President of Liberty Reserve is a fugitive from Morocco, using a false name! The real founder and owner is the sadly famous "Ragnar", well know crook in the e-currency world. He runs a few websites, including the former (sold to other people), the GDCA service that is supposed offer assistance to victims of scams (!) and that curiously went back online some days ago after a few months downtime! GDCA will be a support for Liberty Reserve, as more and more people begin to understand that LR is just a scam, made by scam artists.

Find more about this one and his good friend, also one of the ****utives of Liberty Reserve here:


Have a look at and and and see how Libertyreserve scammers spend YOUR money. A nice 4x4 jeep Mercedes. That is only ONE of their last purchases. We will show you soon how they also bought a property by the see for $470,000, and 2 other very nice cars.
This is all paid with YOUR money that is in the Libertyreserve system, and that explains why a few days ago, Libertyreserve ordered all exchangers to not accept outexchanges above $5000 without the Libertyreserve agreement!


If you have only 100 or 200 bucks, no problem. But if you have larger amounts, be VERY careful: Some days ago, a "confidential" email from Erik Paltz, CEO of Libertyreserve, told all exchangers that any OUT exchange from $5000 must NOT be ****uted without the agreement of Libertyreserve. This is done to lock the money inside the system, like e-gold: There are million dollars in e-gold currently BUT nobody can withdraw them outside the e-gold system. Libertyreserve is doing the same: You can SEE your money on the screen BUT if you want to withdraw $5000 or more, you will have to wait the "Libertyreserve agreement. Some LR users are waiting this agreement since... SEVEN DAYS already!! Exchangers hold the money, and say "Sorry guys, Libertyreserve does not authorize us yet to pay you, please wait".
One of the largest exchanger last month wanted to sell $200,000 LR to Libertyreserve themselves. He had to wait TEN DAYS for Libertyreserve finally sent the payment.


Last month, in March 2009, the Libertyreserve website went offline during more than one week. The official explanation was a "SSL certificate update". One week... The real reason was that the API system of Libertyreserve had a major security hole that allowed hackers to steal hundreds of thousands USD. Look here: and here to see 2 of the victimes accounts after the hack. Libertyreserve NEVER replied to ANY email of these victims asking at least explanations.
One big exchanger also was stolen about $40.000, and as they didn't agree to shut-up and hide this hack, the only reply of Libertyreserve to them was to revoke their exchanger status.
You can read a lot about this story here:


There are currently two legal actions in Costarica against Libertyreserve. The fact that the Libertyreserve manager and president are fugitive, using false identity, gives NO DOUBT about the result: The Costa Rica Court will terminate the Libertyreserve company and, if they have not run away yet, the Libertyreserve management team will be arrested. The result will then be the same than for e-bullion: MILLIONS OF DOLLARS LOST.
The "market" perfectly knows it: The out-exchange rates that were about 2% to 3% last month, went up to 20% to 25% during the "API hack period" and are now at a high 5% to 8%.

All this means that YES, YOU have Libertyreserve in your account but it is less and less possible to sell it for other e-currency or for real money. All this is going to be worse and worse until the Libertyreserve scam collapses, and that the Libertyreserve owners do the only thing they are able to do: RUN AWAY WITH YOUR MONEY, AS ALL SCAMMERS DO.

Of course Libertyreserve tries to hide the truth, by paying guys to post on various forum. One exchanger even claims to visit LR regularly in Costa Rica. In fact he made an agreement so that he will put all his "moral authority" to make LR users confident, in exchange of the guarantee that HE will not be scammed when the Libertyreserve scammers will run away with your money.

You, and only YOU, know what you have to do: Get rid of Libertyreserve BEFORE Libertyreserve scams you!