"Moving bricks" moved into the bureau? Brother Shui noticed a big thing that was just exposed in Shanghai yesterday! A few "smart people" (Yang, Xu, etc.) set up a pile of domestic shell companies (17+), engaging in the "international brick moving" business. However, what they are moving is not real bricks, but money! They are using the stablecoin USDT (Tether) as the "invisible bricks"!
How exactly do they operate? Brother Shui tells you it's simple and brutal! For example, Aunt Chen wants to send money to her daughter studying abroad, but the country limits each person to only $50,000 per year. What to do if it's not enough? Find them! Auntie transfers RMB to domestic shell company A, and voila, her daughter immediately receives the equivalent foreign currency in her overseas account! Fast as lightning ⚡️, transaction fees? Of course, they must take a cut! This move is called "pair trading"; the money never actually leaves the country, both sides balance the books, USDT is just flipped in between, and it's done!
And the scale is truly frightening! Siblings, do you think it's just small-time? They have "moved" 65 small targets (in hundreds of millions) in three years! It's even faster than shopping on Double Eleven! This turnover, Brother Shui exclaimed, is impressive!
Is USDT becoming the "hotcake" again? Why is everyone using it? Because it claims to be pegged 1:1 to the US dollar, its price is as stable as a scale weight (although some people whisper). In the "underground money exchange circle", it has become a new favorite hard currency, and the regulations are less strict than other stablecoins! But is it more "covert" than traditional methods? Think again! The Shanghai officer is keeping a close eye on it!
Blooming nationwide, the amounts are staggering! Not only in Shanghai, but similar big cases have also emerged in places like Beijing. An Aunt Wang is even bolder; she wants to buy a house abroad for her son with 500,000 US dollars, finding the regular channels troublesome. She also looked for "crypto brick movers" and, well, you know the result. These cases often involve hundreds of millions, even billions in turnover! They really have guts!
The official blackboard note: This path is not good! Why has there been a recent concentration of exposures? It's to tell everyone: "Don't! Learn! From! Them!" The country is fully cracking down on these channels! This kind of "crypto underground money exchange" seems convenient, but it is actually illegal! Want to take shortcuts? The prison gate might be faster than the foreign exchange arriving!
Brother Shui summarizes 💦
Want to transfer money across borders? Just stick to the bank's regular channels! Those "movers" using USDT for "pair trading" to bypass regulations are not moving towards financial freedom, but rather the ticket to "iron window tears"! The 6.5 billion big case is a cautionary tale; siblings, be mindful!
