The situation of bank card being frozen due to trading Bitcoin is relatively complex, and it usually involves bank risk control or judicial freezing. Here are some handling suggestions:
1. Bank Risk Control Freezing
• Reason: If the bank card is frozen due to abnormal trading patterns, such as frequent transactions, large amounts, or quick in-and-out trades, it may trigger the bank's risk control model, resulting in a bank card being frozen. This situation is typically a 'no deposit, no withdrawal' freeze by the bank.
• Handling Method:
• You can bring your ID card and bank card to the bank branch, explain the situation to the bank staff, and provide transaction proof as required by the bank, such as transaction records from the Bitcoin trading platform, to demonstrate the legitimacy of the fund source.
• Once the bank's review is approved, they will generally lift part or all of the transaction restrictions.
2. Judicial Freezing
• Reason: If your bank card has been frozen due to receiving dirty money during transactions, i.e., funds related to illegal activities such as fraud or money laundering flowing into your bank card, it may be frozen by judicial authorities.
• Handling Method:
• Proactively cooperate with the investigation: Timely inquire about the reason for the freeze at the bank where the account was opened and obtain detailed information about the freezing authority. The freezing authority is generally the public security agency.
• Provide transaction proof: According to the requirements of the public security agency, provide transaction records related to the frozen funds, including order records from the Bitcoin trading platform, bank statements, etc., to prove that you were unaware of the source of the funds and that your trading activities were legitimate.
• Pay attention to the freezing period: The judicial freezing period is generally 3 days or 6 months. If there are no issues after 3 days, it will be automatically unblocked. If the 6-month period expires, the public security agency will determine whether to continue the freeze based on the progress of the case.
3. Precautions
• Legality Issues: It is important to clarify that virtual currency trading is not permitted in our country, and banks have the right to take restrictive measures against accounts involved in virtual currency trading.
• Cautious Operation: In subsequent virtual currency transactions, try to avoid using a single bank card for frequent transactions and avoid using sensitive keywords such as Bitcoin or USDT in transfer notes.
• Seek Professional Help: If you encounter difficulties in the handling process or have objections to the decisions made by the bank or public security agency, you can consult a professional lawyer or financial expert.
