Today my friend told me that he wanted to convert the virtual currency he held into fiat currency during the New Year period, but his bank card was frozen. He hurried to contact the bank and even went to an offline branch to inquire about the reason. It turned out that it was frozen due to a criminal investigation in another location. The bank provided a contact number, and when he called, it was answered by a police officer from a certain location. The police said the merchant was involved in telecommunications fraud, and the funds in the account were involved in the case, so it was frozen. In such cases, he can only admit that he was unfortunate to encounter a bad merchant.

Another friend was investigated when withdrawing funds and has just been granted bail pending trial. Analyzing the current situation, he will at least be convicted of assisting in information network criminal activities. Whether he will be sentenced to prison is not the main issue; the key is that leaving a criminal record will affect several generations. From his perspective, it is really tragic. He had always been investing money, basically losing everything to liquidation, and this time he finally seized an opportunity to make a little profit, but unexpectedly, he encountered problems as soon as he withdrew. He helplessly said that it was fine when he was losing money; it was only when he started making money that he got targeted.

At the beginning of the new year, I would like to share a few relatively safe fund operation methods for your reference:

1. Binance C2C cash out:

• Choice of exchange: Prioritize Binance, do not use OKEx, as there are many illegal transactions on OKEx, which is too risky.

• Strictly audit merchants:

• Registration time: at least 2 years.

• Total number of transactions: the more, the more reliable.

• Number of transactions in the last 30 days: not too many, a moderate amount is better; too many may indicate excessive trading and higher risks.

• Both parties must verify their identities: Transactions must be completed through the exchange in a formal manner; absolutely do not conduct cash transactions offline, nor use opaque channels like TG.

2. BiyaPay:

You can first transfer the USDT from the exchange to your BiyaPay e-wallet, then exchange it for US dollars or other fiat currencies at a 1:1 ratio in BiyaPay, and finally withdraw it to bank accounts like Wise or OCBC, or remit it back to a domestic bank card, Alipay, or WeChat. By doing this, we only need to pay some fees and exchange rate losses to make our funds compliant and safely obtain money earned from trading.

3. Cashing out offline:

If you want to trade offline, try to find someone you are familiar with and trust. Human hearts are complex, and human nature is hard to gauge, so offline trading may have many potential dangers. An important principle for offline trading is that safety comes first; if you encounter a robbery, do not resist the other party.