U.S. feds seize online currency hub
Law enforcement officials in the U.S. announced Tuesday they had closed and seized Liberty Resercve, an virtual currency they called a financial hub of the online criminal world.
Four days previosly, its founder, Arthur Budovsky, had been arrested in Spain. The Ukrainian native ran the business from Costa Rica.
According to an indictment filed in the U.S. District Court for the District of Southern New York, authorities allege Liberty Reserve processed 55 million transactions and laundered $6 billion between 2006 and 2013.
While LibertyReserve offered account-to-account transfers, it also created a shopping cart checkout for merchants that were “overwhelmingly criminal in nature,” authorities said. “They included, for example, traffickers of stolen credit card data and personal identity information; peddlers of various types of online Ponzi and get-rich-quick schemes; computer hackers for hire; unregulated gambling enterprises; and underground drug-dealing websites.”
Read the full story on the Krebs on Security blog.

Related Download
Understanding how IBM Spectrum Protect enables hybrid data protection Sponsor: IBM
Understanding how IBM Spectrum Protect enables hybrid data protection
Abdicating your company’s data protection responsibilities to the first cloud solution provider you encounter is just as unwise as doing nothing at all to leverage the cloud. On the other hand, it can be a wise decision to investigate what results you might achieve by choosing a backup technology that is capable of supporting a hybrid protection approach capable of covering both on-premises technology and offsite cloud capabilities.
Register Now