As per the court filings, the company processed nearly 55 million unlawful transactions on behalf of approximately one million users across the globe and thus facilitated global criminal conduct.
The federal prosecutors claimed that all transactions carried out by the company were illegal, which were suspected earnings of crimes such as credit card fraud, identity theft, investment fraud, computer hacking, child pornography and narcotics trafficking.
Around 35 exchanger websites as well as four exchangers were found by the investigators to have helped the accused firm in its money laundering activities by breaching various financial regulations.
The law enforcement agencies of 17 nations around the globe are participating in the probe such as Costa Rica, the Netherlands, Spain, Morocco, Sweden, Switzerland, Cyprus, Australia, China, Norway, Latvia, Luxembourg, the UK, Russia, Canada and the US.
US Department of Justice acting assistant attorney general Raman said, "As charged, Liberty Reserve operated, on an enormous scale, a digital currency system designed to provide cyber and other criminals with a way to launder their profits without leaving a trace."
The US federal regulators have shut down the Liberty Reserve website and ordered the defendants to forfeit $6bn.
