Liberty Reserve: Criminals face dilemma


Liberty Reserve: Criminals face online cash dilemma


If you try to block an ant trail with a stone, the ants will soon find a path around it and carry on with their activities.

Are we about to see the online equivalent as cybercriminals react to the takedown of Liberty Reserve, an anonymous internet payment system?

Fyodor Yarochkin believes so. He’s a Taiwan-based cybercrime expert and security analyst who has spent time monitoring criminal websites.

He points to a Russian website that offers a “password cracking” service, enabling hackers to extract passwords from stolen data.

“It used to be a service which solely accepted Liberty Reserve,” says Mr Yarochkin. “Now they have switched to the Azitos payment system – it took them a day.”

Liberty Reserve websiteUS authorities seized control of Liberty Reserve’s net domain name as part of the takedown

Liberty Reserve was the payment system of choice for many criminals…

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