Cryptocurrency cashing out is a must-read, you will need it someday! If you made 20 million from trading cryptocurrencies, now you want to sell it at the exchange and convert it to RMB.
You searched through countless ads from U dealers and finally chose one that looked decent for the transaction.
The U dealer transferred 1 million USDT to your account via Alipay, WeChat, or bank card, and you confirmed the transaction was completed, with 1 million USDT arriving in the U dealer's account.
In this phase, the exchange acts as a guarantor, temporarily locking your USDT until the dealer completes the payment, and you confirm the information. The exchange releases the funds, and everything may go smoothly, but the only potential issue is……
The 1 million that the dealer sent you might involve black funds!
This is a critical link in your cashing out process that you cannot escape from. How can you confirm that the dealer's funds are legitimate?
Days of deposit? Promises of frozen card compensation? The reputation of established dealers?
Which of these… tell me what is useful? None of it is useful. Countless frozen card cases show this frozen card is a low-tier “black swan” event; the funds will explode at any time, completely depending on when the victim reports the case. I have a friend whose frozen card case lasted as long as two years before it got frozen!
Let me be clear: it was frozen two years later! He was dumbfounded and prepared to look for transaction orders to appeal when a certain exchange had already cleared out, and he couldn’t find any information!
The fundamental reasons for frozen cards are:
1. You don’t know whether the money transferred by the U dealer has any issues.
2. Even if there is no issue this time, a few months later, it might be frozen due to previous funds being involved in a case.
3. Even if there are no problems, the counterpart might be flagged by the bank's big data risk control for frequent fund inflows and outflows related to the U dealer, leading to the freezing of associated cards.
4. Lastly, if your domestic card frequently has funds coming in and out, which does not match your past identity; rapid inflows and outflows without retention time will also trigger the bank's risk control freezing.
Hehe, they can investigate, but this is a technical issue on the chain, which I won’t elaborate on for now. This is not about the information of deposit and withdrawal being flagged by the authorities, but rather your bank card being monitored by the anti-fraud big data center…
Most U dealers' bank cards are high-risk cards; if you interact with them for a long time, your bank card will also be tagged as “fraud” in big data.
