Liberty Reserve Started Eating Money By Randomly Locking! Chat Logs Attached.

[JBusiness]

It's very unfortunate to inform, that perhaps LR too has gone to the paths of Paypal. Even worse, that paypal provides us the information of account suspension issues and what can we do about them which LR didn't. Here is the step-by-step story of the whole fiasco:

1. Around 5 days ago, a lot of people I know online, started getting their accounts locked. And the number kept increasing every day. Each new day, more accounts are getting locked - till now also.

2. In the process, my account with hefty funds also got locked.

3. Upon contacting LR, they said that there is some maintenance work going on, that's why I am facing the problem and told me to wait for 12 hours to get it resolved.

4. I waited for 12 hours, then another 12, then another and another. It's been more than 4 days now and I thought of contacting them once again. The resulting conversation was SHOCKING. I hadn't expected such lousy and shady answers from LR. Have a look yourself:

Hello, your Support representative is Brandon
Powered by SightMax

Welcome to libertyreserve.com, Brandon will be right with you.
Brandon
Welcome to Liberty Reserve! My name is Brandon, how may i help you?
________________________________________
Brandon
Hello Pankaj
________________________________________
Pankaj
Hi Brandon
It
________________________________________
Pankaj
Now it's been more than 4 days whilst our company account is still locked
________________________________________
Brandon
Pankaj please wait for a response from the Compliance Department
________________________________________
Pankaj
I am tired of getting 12 hours promises and listening that some maintenence work is going on. Can you please clarify the situation properly? And whether we will be able to access our funds again or not?
________________________________________
Brandon
They will contact you in a near future (cann`t tell you when exactly)
________________________________________
Pankaj
What can you tell me about my account right now?
________________________________________
Brandon
Only that Pankaj
________________________________________
Brandon
I do not have access to that kind of information
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Pankaj
I just need in simple words brandon, when will my account will be unlocked?
________________________________________
Pankaj
And why this problem is there?
________________________________________
Brandon
Pankaj in simple words: I am not aware of that information
________________________________________
Brandon
That is a different department
________________________________________
Brandon
Wait for their response
________________________________________
Pankaj
Ok, can you please transfer me to the concerned department?
________________________________________
Pankaj
Over the live chat
________________________________________
Brandon
They are not available right now sir
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Pankaj
Well, that's kind of dis-appointing.
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Pankaj
At least I should know why my account and funds are locked since so many days, and what is going on behind the scenes. I am sorry to say brandon, but it kinda looks shady
________________________________________
Brandon
You are going to know when the COmpliance Department contacts you
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Brandon
Please wait for their response
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Pankaj
Ok, can you tell me which this issue became a matter of compliance department?
________________________________________
Pankaj
When it was related to only some minor maintenence job?
________________________________________
Brandon
Pankaj your account was always locked by administrator, it was not because of maintenence
________________________________________
Pankaj
I see. Then in previous conversations, I was told from the support guys that it is a matter of some maintenence job, why?
________________________________________
Brandon
I have no idea Pankaj
________________________________________
Pankaj
Is there any direct telephone number to the concerned department?
________________________________________
Brandon
We do not offer phone support Pankaj
________________________________________
Pankaj
Fine. And finally, what can I do to speed up the process? Do you need any information from my side about my account, trading, funds etc?
________________________________________
Brandon
You can not do anything but wait, they already have all the information they need
________________________________________
Brandon
So please wait for their response
________________________________________
Pankaj
But you are not even willing to tell how much wait should I do
________________________________________
Pankaj
Is it 1 day? 1 Week? A month? A year?
________________________________________
Brandon
Pankaj I am not aware of that information, I will be lying if I tell you that in 1 day or in 1 year they will contact you
________________________________________
Pankaj
Good
________________________________________
Pankaj
Don't you think brandon, it's kind of very shady like what LR is behaving? My account and funds are locked without any reason, and I don't get any proper explanation also
________________________________________
Pankaj
I had done thousands of $ business with LR, considering it's safe. But now all of a sudden, it has all gone to drain.
________________________________________
Brandon
Pankaj there should be a reason why your account is locked, so please wait for there response
________________________________________
Pankaj
Ok brandon, will do. Thanks for your time
________________________________________

So the summary is:
1. My account and funds are locked without any warning or reasons.
2. The chat support guys first told it was because of some maintenance, now they are clueless about it.
3. Compliance department will contact me about this issue.
4. But the funniest part is, that there is no ETA for that when they will contact me.
5. It was my legitimate account, with all the genuine and real details. I am ready to provide any documents, information, or whatever things they ask - but I just got no such offer.

So the big question is, has LR decided to eat up money like this? Even till now, many more of my clients are getting their accounts locked up every day. Just a caution to you guys - anything can happen with you. So if you have any big money stuck in there, just don't take risk and move that out. I am not trying to scare anyone, but better safe than sorry.

[nanaimogold]

Are you not aware that LR mints the currency as they need without any auditor oversight?

Don't you think it rather ridiculous to assume they are stealing what they can write into existence without effort?

Keep us informed. Thanks.

[JBusiness]

Originally Posted by nanaimogold

Are you not aware that LR mints the currency as they need without any auditor oversight?

Don't you think it rather ridiculous to assume they are stealing what they can write into existence without effort?

Keep us informed. Thanks.

Thanks for your heads up. Yes, I am aware about that. However, just try to put yourself in my shoes - we have never ever heard about any account locking issue in Liberty Reserve. Paypal etc were popular for that, but LR? No way. In my whole online trading years and moving millions of $, I too myself never heard any such issue. But suddenly this kind of move?

What's more, that they are not even able to provide any proper explanation. Ok, I assume they have not eaten my money since they don't need to do it. But then why are they behaving like shady, not willing to discuss anything about that with me? At least they could have assured me with the proper reasons and some ETA - but nah, they simply gone kaput.

[Patryn]

Originally Posted by JBusiness

we have never ever heard about any account locking issue in Liberty Reserve.

Do some research. We hear about someone having their account locked and their being upset at the slow response times of the Compliance Department at least once every other week.

[Affinity]

Same here. My account got locked in the same manner without any obvious reason.

[begemot]

ALSO!!!

My account with a lot of funds has been locked today some hours ago.
The error is like "The account is locked by administration".
The support is really crazy just told like our department will contact you in some days/weeks !!!!!
No any information provided about reasons and smth.

I know a lot of people with the same type of locks.
The total amount is more than 200k. Just what I know.

BE CAREFUL!!!

[begemot]

And.
That's not random locking.
All users have a good activity with very good standing balances...

[sinjy]

For the guys who got their accounts locked, how much did you have in your accounts?

$10,000 ?
$20,000 ?
$50,000 ?

Telling everyone how much your account had when it was locked will help others to know how much maximum to keep in their account before LR steals money.

[GROSSMEISTER]

+1
I also blocked the August 12, 2012
I was an exchange of LR in my topic on the forum more than 300 positive reviews. Support is currently no specific writing - just wait and everything.

[begemot]

sinjy, I know a lot of users from 2k till 75k, most had between 10-25k.