The previous night, the OTC trading circle in the cryptocurrency world was calm, but the next day it was thrown into panic by a court ruling. The latest criminal judgment disclosed by the Beijing Second Intermediate People's Court struck like a heavy hammer on the hearts of all practitioners — someone simply helped others transfer 200,000 yuan through USDT and received a sentence of 3 years and 6 months, along with a fine of 40,000 yuan. This is not just a simple punitive warning but a strong statement of regulatory power aimed at the gray areas of virtual currency: further involvement in "abnormal transactions" could lead to imprisonment!

I. 200,000 USDT triggers a criminal case: standard exchange? In fact, it touches on money laundering prohibitions!

The key to this case lies in the phrase "knowingly committing an offense". In August 2024, defendant Liu clearly knew that the source of the 200,000 yuan cash held by He was suspicious (subsequently confirmed to be fraudulently obtained), yet he still agreed to help exchange for USDT. Accepting cash and transferring virtual currency might seem like a normal OTC transaction process, but it effectively became an accomplice in "transferring criminal proceeds".


What’s more serious is that after transferring through USDT, the flow of these funds is completely out of regulatory sight, making it extremely difficult for judicial authorities to trace. The court ultimately ruled that Liu's actions constituted "concealing and disguising criminal proceeds", and he not only faces imprisonment but also has all illegal gains confiscated and must pay additional fines.
Many people think, "It’s just helping someone exchange a coin and earning a little fee," but this ruling completely shatters such delusions: as long as you know that the source of the funds is illegal and still participate in the buying and selling or transferring of virtual currencies, you are touching the red line of criminal law. Being "unaware" is no excuse.

II. Judges explicitly warn: These 3 types of behavior are considered criminal "minefields"!

The judge handling this case pinpointed the risks of the cryptocurrency world, especially warning against three types of high-risk operations that could easily violate the law:


  • Engaging in transactions involving "unknown sources" of funds: if the other party offers cash or requests to transfer via an anonymous account to exchange for USDT but is vague about the source of the funds (e.g., claiming it’s "business returns" or "friend’s loan" without any proof), this type of transaction should be firmly rejected, as it likely hides traps.

  • Tempted by "abnormally high" returns: if someone guarantees "exchanging 10,000 USDT for a fee of 500" or offers a 10% commission for transferring once, remember that there’s no such thing as a free lunch. Such high returns usually involve criminal funds, appearing as bait but actually being shackles.

  • Agreeing to requests for "fund transfers": whether the other party is a friend or a stranger, as long as they ask you to "first transfer USDT to a designated address, then help withdraw cash", you are essentially assisting in "laundering" funds, which constitutes complicity. Do not let personal feelings or benefits cloud your judgment.


The judge emphasized: many defendants hold a delusional belief that "virtual currencies can't be traced" and "even if investigated, it would just be a fine", but now judicial authorities have mature chain tracing and fund source tracking technologies for virtual currencies. "Thinking of escaping regulation through USDT? It's simply impossible!"

III. Regulation is by no means a "flash in the pan": the era of "standardization" in the cryptocurrency world has already begun.

This ruling is not a coincidence but a reflection of the tightening regulatory environment. In the past six months, many courts have handled similar cases: some helped fraud groups exchange USDT and were sentenced to 5 years, while others used virtual currencies to help gamblers transfer funds and were sentenced to 3 years... The judicial authorities' stance is clear: virtual currency is by no means a "lawless territory"; any involvement in the transfer of criminal funds will be severely punished.


The underlying logic is easy to understand: with the proliferation of virtual currencies, they have gradually become a "money laundering tool" for crimes such as fraud, gambling, and embezzlement. The ruling from the Beijing Second Intermediate Court is a strong signal to the entire cryptocurrency community: the regulatory "sword" has been unsheathed, and the previously "gray area" transactions will now be strictly regulated, making it increasingly difficult to exploit loopholes.

IV. Risk avoidance guide for ordinary players: 4 steps to stay away from criminal risks.

As an ordinary participant in the cryptocurrency world, to avoid pitfalls, one must remember these 4 "safety principles":


  • Only trade with verified counter parties: conduct transactions through legitimate OTC platforms, confirm that the other party has completed real-name verification and has genuine transaction records, and firmly reject cash transactions and anonymous transfers to avoid risks.

  • Keep complete evidence: save chat records (especially confirming the other party's fund usage), transfer screenshots, platform orders, etc. for every transaction. If unfortunately investigated, these will be crucial evidence to prove your "unawareness".

  • Reject suspicious transactions: if the other party urges a transaction, has a large amount of funds without explaining the source, or requests "multiple transfers" to cover their tracks, these are all dangerous signals; decisively refuse to ensure safety.

  • Do not earn by luck: even if the other party offers a high fee, if you feel something is "off", firmly refuse to participate — trading 200,000 for 3.5 years of freedom is a losing deal no matter how you calculate it; freedom and future are far more precious than this little fee.


Finally, it must be made clear: the money that seems easy to earn in the cryptocurrency world often comes with an invisible "cost" — it could be hefty fines or, more likely, imprisonment. The Beijing court's ruling has clearly drawn the red line: virtual currency trading is not prohibited, but one must follow the rules and distinguish right from wrong. Once you get involved with "criminal funds", even the smallest transaction could lead to heavy consequences. The industry is fraught with risks, so proceed with caution!

The cryptocurrency world is all about adrenaline, but don't let emotions dictate your pace! Follow Xing Ge, who shares hard-hitting information every day to help you avoid pitfalls and seize opportunities!
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