Base on local media reports, Arthur Budovsky Belanchuk, the owner of Liberty Reserve website, has been arrested in Spain for charges relating to money laundry. Accordingly, Budovsky was involved in financial crimes for transferring funds made by child pornography websites and drug trafficking.
A lot of threads and discussions have been started in Internet with regard to locking down Liberty Reserve payment system. At this time, many famous and popular websites are using Liberty Reserve as a reliable payment method. Currently a large number of users from different countries have deposited millions of Dollars in their accounts in Liberty Reserve. No information is available about the future of deposited funds.
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