College Student Arrested for Cashing Out Millions in Cryptocurrency! Guide to Avoiding Pitfalls in the Crypto Circle 🔥
Millions in profits turned into 'silver bracelets'? How risky is cashing out in the crypto circle?
Behind the seemingly attractive cashing out in the crypto circle lies multiple hidden risks. From money laundering traps to banking risk control, a small mistake can land you in danger, even facing legal risks.
🔍 Money Laundering Risk Levels: Touch it and it will explode!
Level 1 Money Laundering (High Risk): Involves serious crimes such as fraud and money laundering. Once received, you face immediate criminal detention and asset confiscation, with a maximum sentence of 10 years.
Level 2 Money Laundering (Medium Risk): Mostly funds from gambling and gray industries. Accounts may be judicially frozen for at least 6 months, and it is difficult to recover the principal, requiring cooperation with investigations.
Level 3 Money Laundering (General Risk): 90% of transactions on platforms may encounter this. Abnormal transactions trigger a 3-day freeze, affecting personal credit.
🚫 Newcomers Must Avoid Three Fatal Traps
❌ High Premium Temptation: Selling USDT at a price 5% above the market rate (e.g., selling 1 USDT for 7.5 CNY instead of 7 CNY) is likely a money laundering trap, and players have already been involved in related funds.
❌ Offline Cash Transactions: A case occurred in Hangzhou where 2 million USDT was robbed during an in-person transaction, with no third-party guarantee, making it difficult to protect rights.
❌ Hard Currency Exchange with HK Cards: Forcing an exchange without proof of overseas income can trigger a 'capital item anomaly' warning, potentially leading to permanent account freeze.
✅ Two Major Safety Measures for Cashing Out: Tested and Effective!
1. Iron Rule for Transactions with Acquaintances
Collect money before releasing cryptocurrency: Refuse any demands for 'release cryptocurrency before transferring money' to avoid losing both.
Transaction Screening: Request the other party to provide recent 3 days of bank statements, avoiding large transfers at dawn and 'problematic accounts' with quick in-and-out transactions.
Small Trial Orders: Keep initial transactions within 100,000 USDT, and expand the scale only after confirming safety.
2. Anti-Risk Control Tactics for Banks
Refuse Whole Number Transfers: Avoid transferring amounts like 100,000 or 500,000; set amounts to 98,000 or 493,000 to resemble actual spending.
Transaction Hedging: Use 30% of funds within 24 hours for mortgage repayments, financial products, or other 'normal expenses' to reduce money laundering suspicion.
📢 Ultimate Reminder
Making money in the crypto circle relies on understanding; cashing out safely relies on restraint! Cash out no more than 30% of total transactions monthly, and stay away from the temptation of 'high-yield shortcuts.' Remember: when a transaction 'looks too good to be true,' it is often a trap waiting. Comply with regulations to protect your hard-earned money!
