Recently, I have received many inquiries and found that many people are eager to try cashing in and out of U in the cryptocurrency circle. But I must seriously remind you: this seemingly convenient over-the-counter (OTC) trading is actually a 'wealth trap' hidden in legal minefields!
First, let me explain a key concept: here 'U' refers to USDT Tether. Cashing in and out of U means over-the-counter (OTC) trading of USDT with cash. Such transactions are not protected by law in our country and hide three deadly risks.
First Layer: Black-on-black scams are hard to guard against.
Criminals often disguise themselves as 'reliable' receivers of cryptocurrency. After you hand over your virtual currency, they either disappear or refuse payment for various reasons. Due to the lack of regulation and tracing mechanisms, once you are scammed, it is as difficult as climbing to the sky to defend your rights.
Second Layer: It’s hard to escape the quagmire of stolen funds and coins.
Cash transactions are highly anonymous, and criminals are very likely to use stolen funds to purchase virtual currency or cash out stolen coins for money laundering. If your account is involved in such funds, you may face a frozen bank card at best, or a judicial investigation at worst.
Third Layer: Legal risks are unavoidable.
Even if you subjectively have no criminal intent, it is difficult to prove that you are unaware of the source of the funds when participating in such transactions. Once deemed 'knowingly or should have known', the space for defense is almost zero, and you may even face criminal liability.
Some may ask: Can signing contracts, recording videos, and checking fund flows mitigate risks? The answer is: theoretically feasible, but almost impossible in reality. Moreover, ordinary people do not have the ability to verify the source of funds, and even if they can, the time and effort consumed far exceed the benefits.
A real case: Someone took a loan of 200,000 from the bank to do cash OTC, thinking that as long as their source of funds was legal, they could rest easy. However, the cash received while selling coins was involved in fraudulent funds, ultimately resulting in not only losing all their capital but also facing police investigation.
Once again, I emphasize: cashing in and out of U is not a 'wealth game' for ordinary people! Especially for beginners, do not be deceived by short-term interests. Once trapped, it not only risks losing everything but may also incur painful legal consequences. Protecting your property safety and staying away from high-risk transactions is the wisest choice!
