Minute Exchange Fund transfer from alertpay to paypal  

First of all, it is rather expensive. You have to pay the appropriate commission on BOTH transactions (the 'sell' from Liberty Reserve and the 'buy' by PayPal). Liberty Reserve commission is 2% and the PayPal commission is not listed but I am sure it's not free. In any deal like this, you would expect to pay a commission: people don't work for nothing!

I looked in vain for their guarantee that the transaction would be secure. There are several things that make me uneasy. First, you do not have to be a member of the site in order to make a transaction and, second, the transaction form is not an https:// address which means that any data you fill in is not encrypted. Not using SSL forms is a classic sign that the site is an amateur one and not backed by any kind of security.

The whole design of the site looks somewhat amateurish and English is not their first language (not that that is very important, but they might have done a better job of translating sometimes).

I did a brief search in Google and came up with this forum: http://www.talkgold.com/forum/r241557-.html The evidence is not conclusive. One person said they transferred $10 with no problem, another claims to have transferred $130 and has not heard a word from them and there are two rather vague claims that it is a scam (not good evidence - anyone may say anything, of course, and people just saying something is a scam without hard evidence means very little).

I think I would proceed VERY carefully, especially since they don't appear to use a secure site for their transactions (always look to see that the URL begins with https://. All responsible payment sites will use secure sites and if it doesn't, I would immediately smell a rat.)