A top student from a 985 university made 18 million by trading cryptocurrencies, only to be taken away by police when trying to withdraw.
Recently, a warning real case has circulated in the cryptocurrency world: What risks are hidden behind this? How can you protect your hard-earned money? Today, we will use real cases and avoidance guides to break it down for you.
1. Case Analysis: Why can’t you withdraw money even after making a profit?
1. Traps that seem highly profitable are actually carefully designed schemes.
Real Case: In March 2025, a university student in Guangzhou was selling USDT (stablecoin) through 'high premium miners', with the other party enticing him at a 5% price above market. 20 minutes after the transfer, police suddenly stormed the dormitory, seizing all equipment on suspicion of money laundering. It turned out that the so-called 'high premium' was a crime ring using stolen funds to buy USDT, laundering money through the student's account.
Core Tricks:
High Premium Temptation: Attract users with profits above market price, actually to launder illegal funds.
Fake Transfers: By forging payment certificates or exploiting bank delays, tricking users into releasing coins early and then reversing the transfer.
Associated Crimes: The upstream of the capital chain may involve illegal activities such as fraud and gambling. Once tracked, user accounts will be frozen.
2. Bank Risk Control: Abnormal transactions may lead to being invited for 'tea' (questioning).
Banks are very strict about monitoring large transactions. The following situations easily trigger risk control:
Single day transfers exceeding 500,000: The bank will require a forced reconciliation at the counter, explaining the source of funds.
Suddenly having 8-digit numbers in the account: Anti-money laundering departments will interview within 72 hours, requiring proof of income.
Has online loan records: Directly listed as high risk, may freeze account 121328.
Real Case: An investor was asked by the bank to provide proof of the source of funds for a single day transfer of 600,000 yuan, and ultimately, due to inability to explain, the account was frozen for six months.
2. Lifesaving Guide: 3 Tips for Safe Withdrawals
1. Iron Rule for Transactions with Acquaintances
Receive money before releasing coins: Must see the Alipay/WeChat transaction screenshot to confirm funds have arrived before operating coin transfer.
Check transactions overnight: The receiving account must be 'clean' (no gambling or loan records) to avoid associated risks.
Avoid high-frequency accounts: If the same account trades more than 10 times in a month, it will be blacklisted to prevent it from becoming a money laundering channel.
2. Ants Moving Home Style Cashing Out
Dispersed Transfers: Split 5 million into 100 transactions, transferring 200,000 daily via Alipay (note: 'goods payment') to avoid triggering large transaction alerts.
Digital RMB Transition: First transfer to a digital wallet, then withdraw in batches. Although digital RMB is traceable, dispersed operations can reduce risk.
Use Hong Kong cards with caution: Don't touch them without overseas accounts! Hong Kong accounts may be frozen during currency exchange due to unclear fund sources, and the unfreezing process is complicated.
3. Platform Selection to Avoid Pitfalls
OTC Merchants: Choose licensed platforms (e.g., Binance, OKX) and prioritize checking merchants' trading records and reputation ratings.
Beware of three-no platforms: platforms without customer service, KYC (real-name verification), or risk control systems should be blacklisted, as these platforms often collude with fraud gangs.
Offline Transaction Risks: Even cash transactions can be seized by police due to disputes, making it difficult to provide evidence.
3. Survival Rules in the Cryptocurrency World: Three No Principles
Don't be greedy for high premiums: Some people aim for a 5% price difference and end up in legal trouble with involved funds. Remember, there are no free lunches!
Don't trust insider news: 99% of 'hundred times coins' are scams, project parties use false advertising to deceive investors.
Don't use personal cards for transactions: If your card is frozen, you won't even have money for meals! It is recommended to open a separate bank card for transactions to avoid affecting daily life.
4. Risk Warnings
Legal Risks: Virtual currency transactions are not protected by law in our country, and participating in money laundering may lead to criminal penalties.
Technical Risks: Issues such as smart contract vulnerabilities and exchange bankruptcies are frequent, like Binance OTC losing 350,000 yuan due to a flaw.
Market Risk: Cryptocurrency prices fluctuate wildly, blindly chasing highs may lead to total loss.
Summary
Making money in the cryptocurrency world is not easy, and preserving capital is even harder. Remember the following points:
Before the transaction: Verify the other party's identity and confirm the legality of the source of funds.
In Transaction: Dispersed operations to avoid large transfers.
After the transaction: Clear records promptly, and monitor account dynamics.