Actually, there aren't that many scams 😁 it's all the government blatantly robbing the poor common people.

Zhang San was scammed while selling USDT. He called the police for help, but the officer directly replied: "You dare to call the police? Do you know that trading virtual currency is illegal? If you dare to come, we will detain you!"

Here's what happened: Zhang San was selling USDT in an over-the-counter (OTC) trade. After agreeing on the price and quantity with the other party, he transferred the USDT. As a result, the other party took the USDT and ran away without paying!

Zhang San felt he had been scammed and called the police.
"Hello, is this 110? I was scammed for 30,000 while selling USDT!"
"You dare to call the police? Don't you know that trading virtual currency is illegal? If you keep making a fuss, we will detain you too!"
—— This is a real conversation between a local police officer and Zhang San, who is seen as an inexperienced trader.

🤯 Soul-crushing three questions:
1️ Is selling USDT really punishable by imprisonment?
2️ Does being scammed when selling USDT count as fraud?
3️ Do the police really take action?

To clarify these questions, I specifically consulted my lawyer friend. Now, let's address them one by one:

Question 1: Is selling USDT illegal?
The document from September 24, 2021, clearly states:
√ Prohibition on exchanges/intermediaries engaging in virtual currency business
× It does not state that individuals selling USDT are illegal!

Question 2: Will I be detained?
It's important to distinguish the police's intimidating language:
▫️ Criminal detention: Unless you are running an exchange or engaging in money laundering
▫️ Administrative detention: The September 24 document is just a normative document and doesn't have the authority to impose penalties!

Question 3: Can I file a case if I am scammed?
It mainly depends on the evidence chain! If the other party used a false identity and a complete scam scheme, there is a chance it can be treated as a criminal case. But if it is an ordinary trading dispute, you will most likely be advised to sue in court.

Survival Guide (Take notes!):
⚠️ OTC trades must go through the three major exchanges for guarantees! Don't trust direct payments via WeChat!
⚠️ For amounts exceeding 50,000, transactions must be split into batches! Keep each transaction under 50,000!
⚠️ Always choose reliable platforms and trading partners! Don't be tempted by small benefits, and don't easily trust strangers!