Bank of the Underworld

April 20, 2015 3:39 AM

Liberty Reserve was like PayPal for the unbanked. Was it also a global money-laundering operation? By Jake Halpern at The Atlantic (previously).
posted by valkane (3 comments total)

Fantastic article, thank you for posting it. It's an interesting question, whether the network was operated knowingly for the benefit of criminals or just happened to be used almost entirely by criminals. I look forward to the coming articles about Bitcoin in a few years, but first we have to clear out all the cases of Bitcoin exchanges simply ripping their customers off.
posted by Nelson at 7:43 AM on April 20, 2015

I eagerly await the day when it is revealed that many of the cryptocurrencies are in fact set up and maintained by the American Government.
posted by the uncomplicated soups of my childhood at 8:03 AM on April 20, 2015

"After all, why go after lone actors like Ngo, or even an entire marketplace, if instead you could find a way to destroy the very currency that bad guys around the globe appeared to be using?"

You mean the dollar?!
posted by auggy at 9:21 AM on April 20, 2015 [2 favorites]