Recently, a group friend excitedly shared their 'business opportunity': on a certain platform, by arbitraging Wavecoin, E-coin, C-coin, K beans, etc., one can earn a price difference of 1-2 cents. For example, using 10,000 yuan to earn 200 yuan, making dozens of transactions could easily earn thousands. It looks like a very feasible investment opportunity, but in reality, you may have already stepped into a legal trap.
This so-called 'arbitrage' is not a real investment behavior; instead, you are helping an online gambling platform with payment settlement. These platforms usually only use a specific type of virtual currency (like Wavecoin), which has very small price fluctuations. The buying price is typically between 0.98 to 0.99, and the selling price is between 1.01 to 1.02, making the price difference almost guaranteed to be profitable. However, the actual purpose of these virtual currencies is not investment but for settling transactions for gamblers, in simple terms, you are acting as a payment settlement 'intermediary' for the casino.
According to the (Judicial Interpretation of Assisting Crime), if you know that the other party is using the information network to commit gambling crimes and provide payment settlement assistance, you are suspected of participating in money laundering and fund transfer, which may result in a maximum of three years of imprisonment. So, don’t think that you have discovered a business opportunity; you might be inadvertently assisting in a crime.
