Liberty Reserve Owner Arthur Budovsky Belanchuk Is Arrested

Liberty Reserve, one of the major e-currency processors has been shut down. Most users who tried accessing their accounts since the evening of 24th May 2013 have not been able to access the website.
As at the time of writing this report the official Liberty Reserve blog is still functional but no official statement has been released.
I sincerely hope this is not another egold saga which caused major losses to internet entrepreneurs who have embraced the ecurrency as the easiest way of accepting payments.
According to bubblews.com,  the 39-year-old owner of the Liberty Reserve payment processor provider --Arthur Budovsky Belanchuk, was arrested in a money laundering investigation/operation on Friday in Spain which was conducted by police officers from USA and Costa Rica.