Liberty Reserve is offline now! As the main page of the site says, for maintenance. The Liberty Reserve blog has posted the update, saying scheduled maintenance is expected to last on August 20, between 11:00 (am) and 3:00 (pm)(UTC). However, there can be hidden reasons for that. See the article below.
The discussion about Liberty Reserve troubles connected with accounts blockage is periodically rising around the web. Several months ago, there was a series of issues with unreasonable accounts blockage, then there were some scam e-mails sent as if from Liberty Reserve. Far more and more often the name of the famous payment processor appears in mass media in the Troubles column.
So, few days ago another piece of news set panic on the high yield investment market. A series of messages about massive blockage of the accounts by Liberty Reserve authorities for no obvious reason has raised a wave of fury among the HYIP investors, admins and even some exchangers.
We all get used to very unprofessional support from Liberty Reserve. There are only two basic template-like repliers used to answer the requests from the owners of blocked accounts. Either, the block has to do with some technical troubles, and soon it will be fixed, or (which is worse) account of the owner has been accused of violating some LR Terms of service, however, no details like which paragraph is violated, or what are the steps to unlock. Nothing else...
So, nearly all niche forums, all HYIP blogs are filled with the threads and posts about massive Liberty Reserve account blockage. Let's try to find out what actually is going on. But let's start from the beginning.
Indeed the massive accounts blockage took place, which naturally led to massive program scam action. Lots of programs got closed with no further explanation. Makes sense, if the account of Liberty Reserve is blocked with the substantial amount on it, the admin of the program is not able to pay out the profit. Obviously the only way-out from the situation is to close the HYIP and launch the new one. On the other hand, professional programs are using this informational reason as a good way to prolong the payment period, and possibly save some money. The majority of programs that closed are "fasts", most long term programs are still working.
So, what are the criteria for blocking the accounts? Nobody knows, the support of Liberty Reserve remains silent. Let us try to think of possible reasons for the massive blockage to take place:
1) Company owners decided to scam all clients;
2) Some staff employees decided to scam the clients;
3) There is some technical error, which caused some program algorithms collapse, and as a consequence massive customers' account blockage;
4) Liberty Reserve was hacked by some anonymous hackers with the purpose of stealing the money.
5) The company, registered in Costa Rica, has become under pressure of US or other foreign legal authorities, that managed to find a way to press upon Liberty Reserve as nearly the only payment processor that allows 100% anonymous account registration.
Well, all of these reasons can be true. Still some of them are too unreal. The first one can hardly happen. The company owners could have thought of something more interesting if they had an intention to scam all and everyone.
The second option... hmm... can be! The amount of funds transferred through Liberty Reserve daily is enormous. Someone could simply initiate the campaign and anonymously, without any approval lock some large accounts and take the money from them. On the other hand, when a person is logged to the account blocked, balance is shown and no money seems to be taken from the account. So, let's move on to another option.
The third option is very much possible, still in that case there could be some blog notification or at least the customer support service could have posted the news, etc.
Option #4 is hard to believe. The system that used to be working with no troubles for years suddenly becomes harmful to hackers attacks... hardly! Why now?
The final option, pressure from authorities is the most real from all the rest offered. There can by anyone involved: VISA and MasterCard systems, Paypal, banks, financial institutes and naturally governmental authorities. They are all aware how much money go anonymously through Liberty Reserve and they simply hate to acknowledge they have no impact on the money turnover.
Let me now tell you, the account of HYIPNews is currently open, fortunately. However the story is not over yet, although the end is near, i am sure! Perhaps it's just a technical error and all accounts blocked for no reason will be unlocked soon. The Liberty Reserve authorities will open the actual reason of the massive account blockage and apologize for the inconveniences caused. Or... there can be something worse... in that case the panic will be everywhere. Actually it has already risen. People have initiated to cash out Liberty reserve from their accounts once not blocked. Many exchangers have ceased to cooperate with Liberty Reserve. Lots of fraudsters appear! The exchangers still working with Liberty Reserve have increased the commission rate for Liberty Reserve out-exchange enormously! So beware, dear friends and try not to panic!