Withdrawing virtual currency, don't think you can easily cash out just by finding a buyer; this idea is completely wrong! While it's true that you can sell virtual currency and get money this way, behind this simple and crude transaction lies a huge risk — the receiving bank card will most likely be frozen. What's more troublesome is that once the bank card is frozen, to lift the freeze, the public security authorities will require you to provide evidence to prove your innocence, which is not an easy task.
To be able to present evidence proving the authenticity of the transaction when needed, the following tasks must be completed before withdrawing virtual currency:
First, make sure to fully understand the buyer's information, as this is a key issue during the public security authorities' investigation. Virtual currency transactions are different from ordinary goods trading; you must fulfill your reasonable due diligence obligations. Before the transaction, carefully review the other party's account information and bank statements. If you find that the source of the other party's funds is unclear, you must decisively refuse to transact. Never let immediate profits cloud your judgment and trade randomly with unknown identities.
Second, promptly retain the chat records during the process of selling virtual currency to restore the complete transaction process. These records are important evidence to prove the authenticity of the transaction and can clearly show the ins and outs of your communication regarding the transaction.
Third, promptly take screenshots of the transaction orders from the exchange and save them. Many exchanges only retain transaction orders for 6 months; after this time, they cannot be retrieved. This is very unfavorable for proving your genuine transactions, so be sure to download and back up the order records for withdrawing virtual currency in a timely manner.
Remember, you must complete the above processes! Otherwise, you risk having your bank card frozen and losing funds, and in serious cases, you may violate the crime of aiding and concealing criminal proceeds, facing imprisonment.
