After making 1 million from trading coins, I almost got into trouble and ended up in jail because of cashing out!
Brothers and sisters, remember this: making money is not hard, but safely cashing out is the biggest test!
Last year, when I cashed out a large amount for the first time, my account with 800,000 was directly frozen, and I almost lost it all. I ran around trying to unfreeze it. Today, I’ve compiled my painful experience into a "Cash Out Pitfall Guide" to help everyone avoid detours!
Three things to do before cashing out
1. Verify the buyer's identity
Refuse accounts with no credentials: accounts without real names, transaction records, or empty accounts should be blacklisted directly.
Request proof of funds: the other party should provide screenshots of transaction records, and the source of funds must be clear (salary, investments, transfers, etc.).
Prioritize long-time users: try to choose certified merchants from exchanges or historical buyers, as the risk is much lower.
⚠️ Important reminder: Never trade recklessly with strangers just to earn a few hundred more!
2. Keep complete trading evidence
Chat records: save screenshots of all conversations from inquiry to transaction.
Order screenshots: retain screenshots of exchange orders and fund flows, ideally marking the transaction time, amount, and wallet address.
Record the entire process: screen record when cashing out to prove that you are conducting "normal transactions" and not money laundering.
3. Backup trading data in advance
Exchanges only keep orders for 6 months, don't delay.
Within 24 hours after cashing out, remember to download all order PDFs for archiving.
It’s recommended to save them in an encrypted cloud drive to avoid losing your phone or having data deleted.
Operations to definitely avoid
Do not directly exchange USDT for RMB, as you may receive dirty money.
Do not use your regular bank card; instead, open a separate "cash out card."
Do not transfer immediately after cashing out; wait until the next day to operate for more safety.
If you encounter a freeze, handle it calmly, contact the bank + police station immediately, and present all evidence.
Final advice
After that freezing incident, I didn’t dare to touch the money in my account for three whole months, and I was very cautious even with spending.
Making money in the crypto world is already very difficult; don't let the hard-earned money turn into "high-risk assets" during the cash-out process.
Friends, remember: making money is important, but avoiding pitfalls is even more important!
