惊奇队长

Recently, the crypto circle has been discussing the issue of exchanging USDT for fiat currency, especially the problem of bank card freezes, making everyone anxious. To be honest, I have been trading contracts and spot for two or three years, using WeChat, Alipay, and bank cards, but I have never had my card frozen, and I haven't even received a risk control call from the bank. A few days ago, someone privately messaged me: "How do you dare to use a domestic account to receive money? Aren't you afraid of being investigated?" The key point is very simple — I never go through the OTC exchanges.

Last month, I encountered a living example. A friend wanted to save trouble and asked an exchange to cash out 20,000 USDT. As a result, the account the other party used for the transfer was involved in telecom fraud, and the card was judicially frozen just half an hour after the money arrived. They are still cooperating with the police to take a statement. Such incidents are too common in the circle, and the main problem lies in the funding chain. The money the exchange gives you may come from illegal activities, money laundering, or even funds from P2P scams. Once this money is flagged by the anti-fraud system, your account could be frozen for a few days at best, and at worst, designated as a "related account," requiring you to go through the police, bank, and anti-fraud center to unfreeze it, which can take two to three months.