What is the underlying logic of selling U on the exchange and receiving fraudulent funds? (Collect to avoid pitfalls)

Today I will talk to you about why your card is frozen at the exchange, what is their closed loop of funding sources, and how Canon’s detailed talk about online fraud funds gets into your retail investor card.

What is the Jingli (Jingliao) online fraud fund?

The telecommunications fraud gangs add victims as friends on various dating, blind date, and e-commerce platforms, commit fraud in the name of love, and induce victims to make various investments, commonly known as pig-killing schemes.

According to statistics, many victims in this situation are concerned about their reputation, and many people will not call the police after being cheated, so it is called "fine material" and this behavior is also called "fine chat".

How are these victims and retail investors in the cryptocurrency sphere connected? Let me explain in detail. Don't think that your digital currency sold on the exchange is safe just because your card isn’t frozen. Most of it is this kind of funding.

Most of these card girls come from rural areas, lacking any skills, struggling even to eat. They find card dealers to do part-time jobs, using a card for 2000-3000 yuan a day, cooperating unconditionally with the card dealers, who provide food and accommodation. The card girls do not know the card dealers and have never met them.

The trader comes into play: online connection with card dealers, who remotely control the connection between the card girls and the trader offline. Upon meeting, they test the credit limit and status of the bank card, and register for a virtual currency exchange. The trader gives the card dealer about 8500 yuan per head, while the card dealer gives the card girl 2000-3000, keeping the profit in between.

The phones and bank cards of the card girls are confiscated.

Personnel configuration: 4 security guards, one driver, one operator, and one security guard controlling 2 card girls.

Material supplier (telecom fraudster): After the trader confirms the card is fine, they directly transfer the fraud funds to the card girl’s account. The trader starts buying USDT on a certain exchange, looking for unverified merchants or third-party payments, immediately transferring the funds to the currency dealer. This can also be a collaborating currency dealer, then returning the USDT to the material supplier.

The rebate here is 10-15%. For instance, with 1 million, the trader makes a profit of 100,000, from which they deduct the card dealer's fees, security guard wages, and daily expenses.

As long as your card is sufficient, the material supplier’s funds will continuously flow into the card girl’s account like a stream.

There’s also coordination with offline currency dealers, who collect cash, while the card girl withdraws cash to hand over to the currency dealer. Of course, there are many procedures in between (99% of offline cash currency dealers wash money this way).

Do you see clearly? Why is a retail investor like you having their card frozen, and what connection do you have with this criminal group?

The intermediary channel is the exchange currency dealer, where 80% of the funds are of this nature. Those claiming the funds are safe are merely victims who haven't reported it.

Currency dealers receive this kind of funding and list orders to collect USDT. At this point, when you, as a retail investor, sell your digital currency, the currency dealer transfers this funding to you. Don’t think it’s a small probability to receive this fund; rather, the entire pool of funds on the exchange consists of this type of money. How do you avoid it?

Given the scale of the exchange, why don’t they dare to open a transaction zone with frozen funds compensation without reason? Because if they do, it might indeed lead to zero transaction volume, and users will run away.

Why would those card girls sell their bank cards for a mere 2000 yuan to cooperate with the trader in money laundering?

Because the card girls are at the bottom of the food chain. Once something goes wrong, they are the first to be targeted, and they will definitely be targeted. They might be unable to even eat. They don't fear being targeted when they are already poor; this is their mentality.

The second type is the bottom-level resistance. A card girl can only be used for one day; once used, she is discarded. They are aware of their fate and are then taken away.

Thus, the consumption is huge, leading to a mechanism where they pull in someone to earn a 500 yuan reward, essentially recruiting their friends to participate in this matter.

They watch the trader enjoy the good life while they can’t even afford a phone, creating a psychological gap, which leads them to contemplate how to resist once they are well-fed.

So they discussed among themselves and decided to run away.

How do they run away? Once the material supplier deposits hundreds of thousands into the card girl’s account, the trader tries to buy USDT. There’s a time lag here; the trader might not be able to buy it immediately, so the card girl will constantly look for ways to escape during this time, then report the account to the bank as lost.

Thus, a battle of wits and courage unfolds. Sometimes the trader doesn’t buy USDT in time, and the security guards have to watch these people to prevent them from escaping. They sleep while hugging the card girls; their phones are confiscated, and they don’t sleep at night, keeping their eyes wide open. The security guards need to sleep, so they have to hug the card girls while sleeping. If they are careless and the card girls escape, they will never be found again.

Later, their response was to drive a few vans to spend the night in remote mountains. Even if the card girls escaped, they wouldn’t be able to leave the mountains.

In the mountains, the card girls cannot escape, so they prepared chili water. The moment they receive the funds from the material supplier, they spray it directly on the security guards’ faces and then scatter to escape.

If one escapes, they get to eat meat.

This is a ruthlessly inhumane world; everyone is insidious. The card girls are at the bottom of the food chain; they have lost all humanity because what stands before them is a question of survival. They know they will definitely be caught in half a month, but what can they do?

It’s like in the past during famines; despite knowing that eating certain things could lead to death, they still consume them. The bold will start to resist, just like the card girls.

Some have psychological resilience; at the moment they are targeted, they will tell the uncle that the funds entered their account due to online gambling withdrawals or because of loans being funneled in and out. No more than 5% can withstand this; I have seen people go in 5 times without being held accountable, and they come out to continue doing the same.

So, when you received dirty money back then and told your uncle it was from a loan being funneled, he felt offended; hitting you was the least of it.

What I write is the most realistic society I have witnessed; these things are the kind of valuable insights that are absent from the entire internet. When you, as a retail investor, sell USDT on the exchange, you are essentially participating in the entire underworld. Of course, you come as a scapegoat; after all, you want to save face. You are an upright person, and your card is a salary card or a mortgage card. You need to have your card unfrozen to continue living, while your opponents are desperate criminals. A frozen card? They don’t care.

Only you come to take the burden, you will bear the cost of the entire telecom fraud.

Once you understand these things, you will know why your card was frozen.

It’s not enough to only audit the transaction flows of the currency dealers;

It’s not enough to just look at the registration time of the currency dealers;

It’s not enough to only consider the transaction success rates of the currency dealers;

What you can see are merely the half-baked nonsense that bloggers teach you.

Those who criticize me, saying they’ve been fine after a few transactions.

It’s like you are walking through a gunpowder room with a torch and coming out unscathed; I still think you are a fool.

I wish you wealth soon; come to me for cashing out.