Nigerians groan as Liberty Reserve shuts down

There are a lots of online forex traders in Nigeria and as far as I know, most of them use Liberty reserve as a means of adding and withdrawing funds from their forex trading account. I visited the Liberty reserve website a couple of weeks ago but the website was not working properly but after a while I was lucky to make some transactions out of my account.

The report we've been however hearing in the news lately is that Liberty Reserve has been shut down. I visited the website today and there was a banner across the site saying, "The Domain name has been seized by the United States Global illicit Financial Team in accordance with a seizure warrant obtained by the United States Attorney's Office for the Southern District of New York..".

I did a bit of Googling about Liberty reserve and found out that the company and the owners were arrested and were already charged to court on charges of money laundering running into $6bn globally.

I wonder how many Nigerians still have their money in Liberty reserve. I do know there are a lot of users most especially the forex traders who make use of it from time to time. There are even others who have made a good business selling and buying Liberty reserve funds.

Nowadays, with Liberty reserve out of the picture, it may no longer be business as usual for them and for the many others who still have their money trapped with the digital currency giant.

This is coming some months after another famous digital currency giant named Bullishtrade.com closed for business leaving a lot of Kenyans in loss. With Liberty reserve closing for business, Nigerians who still have funds with the company may cry to no avail.

Liberty reserve while it worked remained one of the easiest and popular ways of adding and withdrawing funds to and from forex accounts but now that it's no more, Nigerian forex traders may have to use other online payment methods such as Visa, Mastercard, Bank wire and Paypal.

I hope you didn't lose any money to Liberty reserve