View Full Version : LibertyReserve.. Your money is at risk...


swissinvestor
You are probably using Libertyreserve as e-currency. We will explain you why your money is AT RISK and why you should remove your funds from this system run by a team of international scammmers.

WHO MANAGE LIBERTYRESERVE

* As told on their website, the President of Liberty Reseve is supposed to be "Amed Mekovar". Some research in Costa Rica through our contacts in various administrations show that Amed Mekovar is in fact Ahmed Yassin, citizen of Morocco, living in Costa Rica with a residency permit. Interesting to know that this one is prosecuted in Morocco for many scams, and is even under investigation in Costa Rica per request of the US authorities.

So the President of Liberty Reserve is a fugitive from Morocco, using a false name! The real founder and owner is the sadly famous "Ragnar", well know crook in the e-currency world. He runs a few websites, including the former goldage.net (sold to other people), the GDCA service that is supposed offer assistance to victims of scams (!) and that curiously went back online some days ago after a few months downtime! GDCA will be a support for Liberty Reserve, as more and more people begin to understand that LR is just a scam, made by scam artists.

Find more about this one and his good friend, also one of the executives of Liberty Reserve here: http://manhattanda.org/whatsnew/press/2006-07-27.shtml

HOW LIBERTYRESERVE OWNERS SPEND YOUR MONEY

Have a look at http://www.savefile.com/files/2063446 and http://www.savefile.com/files/2063913 and http://www.savefile.com/files/2063915 and see how Libertyreserve scammers spend YOUR money. A nice 4x4 jeep Mercedes. That is only ONE of their last purchases. We will show you soon how they also bought a property by the see for $470,000, and 2 other very nice cars.
This is all paid with YOUR money that is in the Libertyreserve system, and that explains why a few days ago, Libertyreserve ordered all exchangers to not accept outexchanges above $5000 without the Libertyreserve agreement!

HOW LIBERTYRESERVE IS STEALING YOUR MONEY

If you have only 100 or 200 bucks, no problem. But if you have larger amounts, be VERY careful: Some days ago, a "confidential" email from Erik Paltz, CEO of Libertyreserve, told all exchangers that any OUT exchange from $5000 must NOT be executed without the agreement of Libertyreserve. This is done to lock the money inside the system, like e-gold: There are million dollars in e-gold currently BUT nobody can withdraw them outside the e-gold system. Libertyreserve is doing the same: You can SEE your money on the screen BUT if you want to withdraw $5000 or more, you will have to wait the "Libertyreserve agreement. Some LR users are waiting this agreement since... SEVEN DAYS already!! Exchangers hold the money, and say "Sorry guys, Libertyreserve does not authorize us yet to pay you, please wait".
One of the largest exchanger last month wanted to sell $200,000 LR to Libertyreserve themselves. He had to wait TEN DAYS for Libertyreserve finally sent the payment.

THE "SECURITY" OF LIBERTYRESERVE

Last month, in March 2009, the Libertyreserve website went offline during more than one week. The official explanation was a "SSL certificate update". One week... The real reason was that the API system of Libertyreserve had a major security hole that allowed hackers to steal hundreds of thousands USD. Look here: http://www.savefile.com/files/2025881 and here http://www.savefile.com/files/2024516 to see 2 of the victimes accounts after the hack. Libertyreserve NEVER replied to ANY email of these victims asking at least explanations.
One big exchanger also was stolen about $40.000, and as they didn't agree to shut-up and hide this hack, the only reply of Libertyreserve to them was to revoke their exchanger status.
You can read a lot about this story here: http://ecommerce-journal.com/articles/13629_libertyreserve_is_down_for_maintenance_users_are_in_panic_whats_going_on

THE FUTURE OF LIBERTYRESERVE

There are currently two legal actions in Costarica against Libertyreserve. The fact that the Libertyreserve manager and president are fugitive, using false identity, gives NO DOUBT about the result: The Costa Rica Court will terminate the Libertyreserve company and, if they have not run away yet, the Libertyreserve management team will be arrested. The result will then be the same than for e-bullion: MILLIONS OF DOLLARS LOST.
The "market" perfectly knows it: The out-exchange rates that were about 2% to 3% last month, went up to 20% to 25% during the "API hack period" and are now at a high 5% to 8%.

All this means that YES, YOU have Libertyreserve in your account but it is less and less possible to sell it for other e-currency or for real money. All this is going to be worse and worse until the Libertyreserve scam collapses, and that the Libertyreserve owners do the only thing they are able to do: RUN AWAY WITH YOUR MONEY, AS ALL SCAMMERS DO.

Of course Libertyreserve tries to hide the truth, by paying guys to post on various forum. One exchanger even claims to visit LR regularly in Costa Rica. In fact he made an agreement so that he will put all his "moral authority" to make LR users confident, in exchange of the guarantee that HE will not be scammed when the Libertyreserve scammers will run away with your money.

You, and only YOU, know what you have to do: Get rid of Libertyreserve BEFORE Libertyreserve scams you!

lemon_1800
This is a strange story which I cannot believe. I don't think LR will be ever like the scams e-gold or altergold. They have been so far doing pretty good and I believe it will be maintaining this forever. This information must be put by some envies of LR, so please don't trust it.

Dimk
This story is known but possibly originates from the competitors of LR; some accuse PM and e-commerce journal as scams and others accuse LR as scam.

Despite its flaws though, LR seems much better than its competitors,
and I do not find these accusations credible enough.

tohawk
ah. i also can't belive that LR would be scam. they did very perfect job now and why they need to scam? but think i'd better not leave big amount on LR account. also not on any e-currency account.

alensot
I haven't heard anything of this sort of LR and i am still satisfied of the security LR provides to its customers and they have been running well all these years without any problems and we can more convinced if somebody comes outs aying transaction of more than $5000 done through LR

lihongyi
God...this thing sounds really strange...Liberty Reserve has already run for a few years,I don't think that it would turn scam.It's well-known and has so many users unlike e-gold and altergold.
But even if it turns scam,it won't hurt me a lot,I usually exchange it once I have 10+ dollars in it.
I also think tha it's natural 5000+ dollars transaction should be told to liberty reserve before it's proceeded,this is a way to keep the money safe,isn't it?

Dimk
@lihongyi : Not to hijack the thread but you exchange 10 $ LR ???
It is so small amount and the fees make it even smaller. How much do you receive then? have you found an exchanger with really very low fees?

Rockstar12345
Well such stories appear from time to time , earlier it was evowallet and pm and now Lr , though we cant say which one is correct , so i dont look too much in to it.@lihongyi : Not to hijack the thread but you exchange 10 $ LR ???
It is so small amount and the fees make it even smaller. How much do you receive then? have you found an exchanger with really very low fees?
i think he means exchange to other e-currency.

oluniyiny
At this juncture i believe best strategy to adopt is to maintain two or three e-currency at a time and let the availble resources be distributed evenly among them, thereby one is not putting all eggs in one basket. Because there may be element of truth in this accusation and counter accusation of all the e-currencies.

wasi90lk
i believe that this article may be true. e-gold used to be better than liberty reserve and look what happened to them. if liberty reserve is doing illegal business (which i think it's doing) obviously they may have to pay for that.

dinos1
Oh man, more things against Liberty Reserve... Not sure if they are true or false or what the intentions of the posted or that information is but I am going to get rid of my Liberty Reserve funds as soon as possible.. lol :p

Whatever the case is though, I am afraid that all this war against Liberty Reserve, whether right or wrong, will cause a drastic depreciation of the Liberty Reserve ecurrency..

Dimk
Wel, I don't think the situation is really so serious; there was a slight depreciation in some exchangers during the recent LR downtime but now the exchange rates are going back to normal.
Anyway, since almost all hyips use LR but relatively few use the other e-currencies, I stick with LR.
I guess we'll have to worry only when hyips start dropping LR as a payment option and this seems very unlikey at present.

archy22
well then i feel i should not be keeping my money in my LR account for a long time. is this all because of recenssion that is happening?
Anyways lot of sites are still paying through evo wallet which need to be transferred to LR and from there to my paypal. so it is a tedious process and takes long tiem to clear from my LR account.

bdsurf
Well, whatever the case is, it is definitely not comfortable for anyone who has funds at a Liberty Reserve account to read those news, and I guess that there will be many who will be converting their funds now that these accusations have been out...

At any case, Liberty Reserve should at last come out on their blog and provide solid proof against accusations... Cause if they don't, then they are indirectly confirming them..

I think actually nothing is happened for LR. We are just feared by some gossip. There is no strong evidence about any problem or cheating and if we can't beleive any payment processor, then there is no logic to work in online. There are many people who even do not trust paypal or alertpay. We need to understand no site close the business to get some quick money when their business is running very well.

dinos1
I think actually nothing is happened for LR. We are just feared by some gossip. There is no strong evidence about any problem or cheating and if we can't beleive any payment processor, then there is no logic to work in online. There are many people who even do not trust paypal or alertpay. We need to understand no site close the business to get some quick money when their business is running very well.
Well, sure, I have no problem to to accept that Liberty Reserve may be accused falsely by its competitors willing to cause it problems.. Fine till there, this is a possibility and, to be honest, it is a strong possibility.. I am just saying this: Supposing that it is actually this, i.e. false rumours... Then why doesn't Liberty Reserve come out with solid proof contradicting the accusations one by one? In that way, it would have had people trust it by far more and in case there were more such accusations later, people would have denied to trust them as the last time they would have been proved to be nothing but lies..

archy22
well i am very much skeptical about all other payment processors including LR. I have seen LR going down for maintainance reasons for days together and even when they came back they had problems many a times. I am getting lot of sppof mails also.So i need to be very careful about my LR acccount.

dinos1
well i am very much skeptical about all other payment processors including LR. I have seen LR going down for maintainance reasons for days together and even when they came back they had problems many a times. I am getting lot of sppof mails also.So i need to be very careful about my LR acccount.
That's true, there are definitely several tricky things with most payment processors and Liberty Reserve is topping the list of the "suspicious" activities on it... If they came out with a proper explanation, it would have been great, but unfortunately they don't, either because they don't care enough or underestimate the damage those accusations would cause them or because there is actually something wrong with them..

archy22
well they are not at all responding to any of the query mails sent also you know. I wonder how i lost my password. One day i was not at all able to login to my account and it said you have changed your password. Then i contacted support they said after 15 days that my account had some technical problems. i dotn know what it was and they had reset my password. Why should some one change my password .. that means our account is not safe there.

dinos1
well they are not at all responding to any of the query mails sent also you know. I wonder how i lost my password. One day i was not at all able to login to my account and it said you have changed your password. Then i contacted support they said after 15 days that my account had some technical problems. i dotn know what it was and they had reset my password. Why should some one change my password .. that means our account is not safe there.
I never had any problem loggin in there to be honest, but I have heard about more people having the same problem as you and to an extent, I am afraid that these issues partially confirm the accusations against them, i.e. that they intentionally block access to accounts because they are using the money themselves and thus because they want to replace the money in your account first and then allow you to access it again... Anyway, many suspicious activities with Liberty Reserve, I should be converting my funds there soon..

archy22
well that is true . any online processors including LR are not that trustworthy my dear friend. Hence you should be withdrawing your money soon from there and do not take risk of loosing it. I will be getting some more money by this month end. i will all together transfer to my paypal account and then transfer my money from there to my local bank account.

lihongyi
Though the liberty reserve is not developed as good as paypal and alertpay,but the problem is about their merchants,they have as many merchants as paypal,that's why they are popular.And with some many merchants,I don't think the liberty reserve support would have the idea of scamming,or all of them would go into prison.

tohawk
well that is true . any online processors including LR are not that trustworthy my dear friend. Hence you should be withdrawing your money soon from there and do not take risk of loosing it. I will be getting some more money by this month end. i will all together transfer to my paypal account and then transfer my money from there to my local bank account.

yes i agree with you . no payment processor are 100 percent safty nowdays. even paypal can limit or freeze our account . the only thing we can do is keep our payment processor account secrectly and with draw money from it as quick as we can to escape the lose. but seems paypal don't allow us to withdraw big amount at one time?

alensot
Though the liberty reserve is not developed as good as paypal and alertpay,but the problem is about their merchants,they have as many merchants as paypal,that's why they are popular.And with some many merchants,I don't think the liberty reserve support would have the idea of scamming,or all of them would go into prison.

In a way.you are absoultely right and LR has huge client base and that is also their strength and i haven't faced any problem sin them till now and more than anything i would also say that the are also more secure as they give more importance to security things

dinos1
Though the liberty reserve is not developed as good as paypal and alertpay,but the problem is about their merchants,they have as many merchants as paypal,that's why they are popular.And with some many merchants,I don't think the liberty reserve support would have the idea of scamming,or all of them would go into prison.
Well, that would have been great if it could happen though according to their terms of service they are not to be held liable for fraudulent activities of the merchants that they co operate with.. They would only be held liable if they scammed people themselves and apparently they have not done so yet.. They could also be held liable if the Liberty Reserve website itself was used for fraudulent activities such as money laundering and hopefully this will not happen as the Liberty Reserve website would then collapse in the way e-gold did..

earntaka
In a way.you are absoultely right and LR has huge client base and that is also their strength and i haven't faced any problem sin them till now and more than anything i would also say that the are also more secure as they give more importance to security things

They give more importance on login security but never on members transaction. I heard in myhyip forum that one people loss $1000 in one day in LR for hacking his account. BUT he had no way to get the money back. I am not sure if LR stuffs are responsible for it as hacking a LR account is very tough as you need to know pin, password and transaction key.

tohawk
oh. loss 1000$ within oneday and can't get the money back. i also ever heard from someone that his LR account was been hacked and he asked LR to provide the hacker's details and LR refused to help him on this issue.it's better if they also add a feature like paypal we can chargeback if someone stolen our money.

internet
If your account has been hacked i guess the charge back would not work, isn't it? but i think the more people fear and panic about their monies at LR is the more they will loose as sammers are always looking for those people to scam whereas in reality you'll find that our money is safe there at LR

tohawk
well.since paypal have the vrification feature so i think in case our account been hacked. we can get the money back also if paypal can cooperate with us. they know the real messages about the hacker . if those hackers have yet to verify their account so they are not allowed to transfer certain amount within one month.

but LR do not have such verify feature so it would be a little hard to get the money back. but as far as i know. LR won't cooperate with members if their account were hacked.

always
I am getting confused how I get trusted and honest payment system that permit all member to withdrawn all their money fully.

I hope LR will be honest forever as I know.

tohawk
huhh..do not be confused . paypal is trustworthy though they have strict rules and it's not so convenient for international members till now. but i think it would expand their good features to global members soon.

LR value is even higher than paypal but i'm afraid people will be scared as they often down time and time.

dinos1
huhh..do not be confused . paypal is trustworthy though they have strict rules and it's not so convenient for international members till now. but i think it would expand their good features to global members soon.

LR value is even higher than paypal but i'm afraid people will be scared as they often down time and time.
Yeah, that's true... Even if one or more payment processors turn scam later, that will not mean that all of them turn scams.. Personally I trust pay pal because they had been in the sector for a long time and never showed any flaw or problem, including security of accounts and refund policy. Liberty Reserve on the other hand is much newer with a lot more security issues and the merchants that they co operate with definitely not have as good reputation as the merchants that pay pal is working with (including ebay, rapidshare and a lot more...)

tohawk
now seems people's favourite online payment processor come as paypal>LR>alertpay>others. most of us trusted paypal more than LR because paypal based on ebay and we think it would not turn to scam easily. but if someday ebay is on their last breath and how could we stick with paypal anymore?

aha..seems i talked big joke now. anyway i wish paypal longeivity and provide us more and more convenient later on.

wasi90lk
huhh..do not be confused . paypal is trustworthy though they have strict rules and it's not so convenient for international members till now. but i think it would expand their good features to global members soon.

LR value is even higher than paypal but i'm afraid people will be scared as they often down time and time.

i don't know why people think that lr value is higher than paypal. but when members exchange, they tend to exchange with this rate:

1 lr = 1.10 pp or more.

i think the rate should be the opposite. 1 pp = 1.10 lr sounds more reasonable.

earntaka
i don't know why people think that lr value is higher than paypal. but when members exchange, they tend to exchange with this rate:

1 lr = 1.10 pp or more.

i think the rate should be the opposite. 1 pp = 1.10 lr sounds more reasonable.

I also think so. Liberty reserve don't have direct withdrawal system. Many members use it but their total members are less than 50% of paypal. I think paypal should to get more value.

dinos1
now seems people's favourite online payment processor come as paypal>LR>alertpay>others. most of us trusted paypal more than LR because paypal based on ebay and we think it would not turn to scam easily. but if someday ebay is on their last breath and how could we stick with paypal anymore?

aha..seems i talked big joke now. anyway i wish paypal longeivity and provide us more and more convenient later on.
For me it would be more like: pay pal > alert pay > liberty reserve > evo wallet.. That is because of the facts that you cannot easily add or withdraw any money to your liberty reserve account, as well as the several problems with the security, support and uptime of liberty reserve. And I can't say that it is only ebay that makes me trust pay pal, although this is an indication that pay pal will have a great website to keep its earnings up, also knowing that they are not in risk of losing the contract as they are owned by ebay anyway.. :p

The reason why I trust pay pal more also has to do with the good support that they offer their members and the much better security and uptime that they offer their members..

dinos1
i don't know why people think that lr value is higher than paypal. but when members exchange, they tend to exchange with this rate:

1 lr = 1.10 pp or more.

i think the rate should be the opposite. 1 pp = 1.10 lr sounds more reasonable.
This is not an actual exchange really as the pay pal terms of service do not allow the exchange of pay pal funds to and from any other payment processor.. But the reason why liberty reserve funds are more expensive than pay pal is quite obvious: On Liberty Reserve, there is no way of you funding your account directly, you would only be able to do that through exchanging to another payment processor... So, those who already have money on liberty reserve would ask for a higher price as they know it would not be easy for those who have funds on pay pal to fund their liberty reserve accounts in any other way..

maxcool
This is not an actual exchange really as the pay pal terms of service do not allow the exchange of pay pal funds to and from any other payment processor.. But the reason why liberty reserve funds are more expensive than pay pal is quite obvious: On Liberty Reserve, there is no way of you funding your account directly, you would only be able to do that through exchanging to another payment processor... So, those who already have money on liberty reserve would ask for a higher price as they know it would not be easy for those who have funds on pay pal to fund their liberty reserve accounts in any other way..


Agree... and also in the hyip world, the LR demand is obviosly higher than PP... in other words there are more people wanting LR and less people wanting PP.

dinos1
Agree... and also in the hyip world, the LR demand is obviosly higher than PP... in other words there are more people wanting LR and less people wanting PP.
Well, yeah, pay pal doesn't co operate and doesn't even want to co operate with HYIP programs because most of them don't have a good reputation and they are not established companies anyway... So, for pay pal members who don't have the opportunity to fund their Liberty Reserve accounts in any other way for the time being, exchanging their funds would be the only way to do it and have substantial funds to invest in HYIP and similar programs..

earntaka
I think in alertpay value is higher than paypal. I find many people who can offer 10-15% extra by paypal for exchanging LR. But not found anyone who can give at least 8 percent extra in alertpay. Might be alertpay is not much available.

dinos1
I think in alertpay value is higher than paypal. I find many people who can offer 10-15% extra by paypal for exchanging LR. But not found anyone who can give at least 8 percent extra in alertpay. Might be alertpay is not much available.
Well, it could be actually since Alert Pay most commonly charges a specific and fixed amount for adding more funds to your account or withdrawing existing funds, while pay pal's rates vary a lot depending on the country.. On another note, alert pay funds are more easy to exchange because their terms of service may allow that in some cases, while pay pal clearly states that it bans the exchange of pay pal funds..

tohawk
yes. LR allow members to exchange to other online payment processor.which is indicated on the LR interface already also. but neither paypal nor alterpay allow this kind of behavior . they will limit our account if the catch us finally.

dinos1
yes. LR allow members to exchange to other online payment processor.which is indicated on the LR interface already also. but neither paypal nor alterpay allow this kind of behavior . they will limit our account if the catch us finally.
As stated somewhere again, Alert Pay does allow you to exchange your funds in your account there to other payment processors but only provided that there is a specific permission of theirs allowing this exchange.. In other words, I guess that they would require some extra fees or payment from a member or an exchanger to allow the conversion of their e-currency to and from other e-currencies...

tohawk
well. only allowed to exchange with their permission. that's someway of not allowed also.
can we members easily gain their permission to exchange with some exchangers or individual guys? no.

archy22
well the only problem is with the exchangers. it is really very much hard to find the good exchangers from LR to paypal which i usually prefer always.
till now i had found one goood exchanger at a forum but now a days he is not at all coming online, i need to find some other trusted exchanger now.

dinos1
well. only allowed to exchange with their permission. that's someway of not allowed also.
can we members easily gain their permission to exchange with some exchangers or individual guys? no.
I haven't tried that ever to be honest, I have no clue whether they would have allowed you but since I haven't read about anyone whose request to exchange was denied, I cannot say that it is impossible anyway... On another note, I have never read about accounts on alert pay getting frozen or banned under suspicions that their owners have exchanged alert pay funds to and from other payment processors... So, who knows? I guess you will find out if you try contacting them but it is not impossible anyway..

dinos1
well the only problem is with the exchangers. it is really very much hard to find the good exchangers from LR to paypal which i usually prefer always.
till now i had found one goood exchanger at a forum but now a days he is not at all coming online, i need to find some other trusted exchanger now.
As a matter of fact, it is actually impossible to find official exchangers (I mean established websites, blogs or something like that) that would convert pay pal funds to and from other payment processors because sooner or later they would have had their pay pal accounts closed and they may have also been sued by pay pal itself for consistent activity against their terms of service.

So, I am afraid that people we meet at forums will be our only option to exchange pay pal funds and of course we would always be running the risk of being scammed there..

starapple
I have received the same email weeks ago and allegedly from the Talkgold admin. It was just forwarded to me also but I don't believe it at all though I must say that I kinda worry when LR always go down.

gloryb2green
I have received the same email weeks ago and allegedly from the Talkgold admin. It was just forwarded to me also but I don't believe it at all though I must say that I kinda worry when LR always go down.

Yes, I also received an e-mail from apparently, the Talkgold admin. First of all, I personally don't find much creditability in T.G. to begin with.

However, as stated here already, it could be the cheerleaders from other forums or e-currencies providers, that want your business. (at the risk of investors losing their money)

But what makes this infinitley more dangerous than a few thousand dollars in a hyip, is the possibility of being scammed for a few million, as already stated here. It doesn't take much of a cheerleader, to reek panic among investors. And if there was even a slight chance of an e-currency running away with investors money, then now would be the perfect time for an e-currency provider/exchanger, to form an exit strategy.

You see, when it comes to losing money from a scamming hyip, investors usually have the option to invest in another hyip. However, this is because investors usually have some funds left, to search for other hyips.

But if the option is completely eliminated, because the thieves in the e-currency providers ran off with your money, then in my opinion, investors have no options left.


Simply put...If an investor had the option of investing green stamps in a hyip, (for those old enough to remember green stamps) then options are still on the table. But what is one's option, if an e-currency provider/processor, runs away with EVERYONE'S MONEY!!

While I generally disagree with the claims that L. Reserve is a scammer, I shun to think about what could happen, if this WAS TRUE!! We don't have to look very far back, to remember what e-gold went through. Granted, they were busted by the feds, but an e-currency exchanger/processor, doesn't have to get busted, to put everyone in the poor house!!

earntaka
Lr is facing different type of problem these days. If they claim after someday for any error their server crashed and they currently have no records about members account, we have nothing to do. In that case it will be not possible to get money from LR if we don't have current account balance proof and we will lost it.

luke1
Just a part of business competition. The rumors will keep blowing, fighting each other.
If they fail, they will do DDoS attack.

dinos1
Just a part of business competition. The rumors will keep blowing, fighting each other.
If they fail, they will do DDoS attack.
I tend to agree with you... But still that does not mean that it is honorful competition to harm the others' reputation in that way.. Seems that some people have failed to beat their competitors in the proper way, i.e. through the quality and reliability of their services and would rather gain points against their competitors through applying honorless tactics, which include of course DDoS attacks and non-rumour tactics against their competitors..

rajfoe
Oh friend is that true that in LR our money is at risk. I never knew that. Then can we send our money from LR to paypal.com. I believe paypal only. It is the best.

dinos1
Oh friend is that true that in LR our money is at risk. I never knew that. Then can we send our money from LR to paypal.com. I believe paypal only. It is the best.
Well, if you read the other replies here, all those rumours may be plain garbage and fake accusations of competitors against Liberty Reserve... So, your money may not be at risk really, this is still something that will have to be proved first..

As for converting your funds from liberty reserve to pay pal, this is not allowed according to the pay pal terms of service and there have been several people to have their accounts on pay pal frozen or even banned under suspicions that they had been exchanging pay pal funds to and from other payment processors.. Of course, you can still find people and even exchangers doing so, but that would be on your own risk.

tohawk
yes convert LR to paypal is not allowed by paypal but seems many guys keep on doing this. even i just plan to exchange it later also..but i fear to be caught by paypal..so i just leave my LR money on the account and after it reach a certain amount like 10$ or so then i exchanged it to local currency..

amazingheart
yes convert LR to paypal is not allowed by paypal but seems many guys keep on doing this. even i just plan to exchange it later also..but i fear to be caught by paypal..so i just leave my LR money on the account and after it reach a certain amount like 10$ or so then i exchanged it to local currency..
Why is this possible for PP for us to be caught up? In what way then? Because that makes me afraid also, lol! What's the consequences if PP would know regarding this matter? I had already twice of exchanged in just 5 days lol!

tohawk
well. i have no personnal experience but you'd better be more careful next time. you can caught by paypal if you show such as exchange words on your transaction note or posted your paypal Id on any exchanger site or forum at least.also if you get money from one who have exchange specious on paypal already will also affected your account.

bdsurf
well. i have no personnal experience but you'd better be more careful next time. you can caught by paypal if you show such as exchange words on your transaction note or posted your paypal Id on any exchanger site or forum at least.also if you get money from one who have exchange specious on paypal already will also affected your account.

You are right. Paypal can even catch the exchanging if anyone post his paypal id in a money exchanging site. Recently one my friend made such an exchange. After some days paypal limited his account. He didn't made any proof of exchanging without posting his paypal id in exchanging site. I think that is the reason for limiting his account.

indieover
yeah it is really risky to exchange it. that is why i avoid exchanges in sites. i don't want to have my fund limited. cause this is the most useful payment processor for me. for how long will the limit be in effect anyways.

tohawk
You are right. Paypal can even catch the exchanging if anyone post his paypal id in a money exchanging site. Recently one my friend made such an exchange. After some days paypal limited his account. He didn't made any proof of exchanging without posting his paypal id in exchanging site. I think that is the reason for limiting his account.

yes. actually paypal act as a spy or dector to our account sometime. i wonder if some scam exchangers want to chargeback our money and can we report to paypal that this one is an exchanger and let paypal to worry about this exchanger's account or not?

sinip
yes. actually paypal act as a spy or dector to our account sometime. i wonder if some scam exchangers want to chargeback our money and can we report to paypal that this one is an exchanger and let paypal to worry about this exchanger's account or not?

You're of course free to report any suspicious or fraudulent activity of any other account holder to PayPal. And you can be sure that PP will investigate it.

betsybee
This thread is about Liberty Reserve.
Please take your PP discussion to the proper thread :mad:

bdsurf
yes. actually paypal act as a spy or dector to our account sometime. i wonder if some scam exchangers want to chargeback our money and can we report to paypal that this one is an exchanger and let paypal to worry about this exchanger's account or not?

You can report it and I think it will be not much good. Indeed exchangers are breaking paypal rules but it is also true at the same time that it is helpful for people. Paypal made this bad rule for their business and I think if members get extra facility by exchangers, there is no problem at all.