US seized Costa Rica-based Liberty Reserve for allegedly financially supporting a huge network of cybercriminal activity and handling over $6 billion from online illegal operations. Seven people are already in police custody for processing money laundering schemes. Among the detainees is Liberty Reserve founder Arthur Budovsky and co-founder Vladimir Kats who were arrested in Spain and in Brooklyn. Some people saw Liberty Reserve as a cheaper alternative to other financial institutions since it allowed anyone with an e-mail address to set up an account and transfer money anywhere around the world.”]
Source: https://www.bitdefender.com/blog/hotforsecurity/us-takes-down-libertyreserve/