There are two main types of freezes: bank freezes and judicial freezes.
The first one is bank freeze.
There are two main types of bank freezes:
Banks in some countries and regions do not allow bank accounts to participate in digital asset transactions (for example, because BTC, ETH, USDT, etc. are noted during the transfer, the bank's risk control system detects it). Therefore, when an account involves digital asset transactions, the bank will freeze or suspend some of its transaction permissions;
It is also possible that the behavior of this account triggered the bank's anti-money laundering system (such as large transfers late at night, frequent transactions with multiple people, no balance in the card for a long time, etc.).
Generally speaking, banks will not freeze bank cards directly, but will only restrict your non-counter transactions or "pay but not receive", that is, suspend some of your transaction rights.
How to deal with this situation?
Contact your bank directly and provide relevant information (usually explaining the reason for the fund flow) as required by the bank.
How can we prevent this situation?
First, when trading with buyers, remind them not to mention sensitive words such as USDT, BTC, etc.
Second, don’t use just one bank card. Prepare a few more and change them every once in a while.
The second type is the judicial freeze, which is the one that everyone is most concerned about and the one that causes the most headaches.
The logic of judicial freeze varies according to the judicial procedures of different countries, but they are generally similar.
After being defrauded, the victim reported the case to the police, who froze all the bank accounts along the relevant funding lines according to the bank accounts through which the victim's money passed. For example, the victim's money was transferred to bank account A, which then transferred it to bank account B, which then transferred it to bank account C, and then to D, E, and F; then it is possible that A, B, C, D, E, and F will all be frozen, and B, C, D, E, and F may not know the source of the funds.
Generally speaking, freezing does not mean that you will be frozen immediately after receiving the problematic funds. You may be frozen because of a transaction that happened a month ago. However, generally speaking, it is frozen because of a transaction that happened a few days ago.
How to deal with this situation?
If your bank card is frozen by the court, you need to check the freezing period through the bank or bank hotline to find out how long it is frozen and where it is frozen. These two pieces of information are very important and will be displayed on the bank backend. It is best to get these two pieces of information.
Most judicial freezes are only temporary freezes to cooperate with police investigations. They will be automatically unfrozen within two or three working days. You don't need to worry about this. It will be automatically unfrozen when it expires. But you should also pay attention to transferring the money when it expires, because there may be victims in more than one place in the case, so it may be frozen in more than one place, and it may be frozen again in the future. In addition, the 48 or 72 hours is not a punctual unfreezing, and some may be delayed for several hours or even half a day.
The second type shows a freeze of six months. Generally, if you directly received the problematic funds or were close to the source of the problematic funds, your funds may be frozen for six months. Of course, due to different handling methods of local judicial authorities, some regions directly freeze their funds for six months.
How to deal with this situation?
Contact the local police as soon as possible and ask them to provide which payment you received that led to your involvement. If they provide it, then provide relevant information as required by the local police. Relevant information is generally used to explain why you transferred this money. Therefore, generally speaking, it includes your order records for OTC transactions on the exchange within a certain period of time (you can log in to the exchange OTC account and click on the order in the upper right corner to export and print), your frozen bank card flow, etc. In addition, if the police need you to provide the personal information of a certain counterparty, please contact the OTC customer service and follow the legal process provided by the customer service.
When the above materials are provided to the police, they will give some feedback according to the different handling methods of the public security systems in various places and the different cases. For example, some will strictly require the case to be solved or withdrawn before unfreezing, some can only freeze the funds involved, and some places can unfreeze directly. If the police are unwilling to unfreeze directly after you have made a record, you can ask about the funds involved in the case. If the funds involved in the case are far less than the frozen funds, then you can apply to unfreeze the non-involved funds. If you really did not participate in telecommunications fraud or money laundering, but were only frozen because of the sale of digital assets, then you should be a well-intentioned victim who was implicated. It is recommended to consult Dachengzi
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