Aurich Lawson On Thursday, one of the seven men associated with digital currency service Liberty Reserve pled guilty to money laundering and operating an unlicensed money transmitting business, among other charges.

As we reported at the time of its May 2013 shutdown, Liberty Reserve was preferred by many members of the online underworld, including a booter site used to attack Ars in March 2013. “Vladimir Kats, by his own admission, helped to create and operate an anonymous digital currency system that provided cybercriminals and others with the means to launder criminal proceeds on an unprecedented scale,” Acting Assistant Attorney General Mythili Raman said in a statement. “His conviction reinforces what we said when Liberty Reserve was first brought down: banking systems that allow criminals to conduct illegal transactions anonymously will not be allowed to stand, and professional money launderers will be brought to justice.”     

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