What should I do if my U account is frozen by 18 police stations when I sell it on the top exchange? How can I prevent my account from being frozen?
Recently, a fan told Dachengzi that he bought 60,000 yuan worth of U from a leading exchange, but his bank card was frozen by 18 public security agencies.
This fan had also read Dachengzi's article before. The price of Usdt he chose when selling was not the highest, and the OTC currency dealer he chose was also one with a very high trading volume. This currency dealer was registered at the end of last year. Unexpectedly, his card was frozen.
You think 18 is a lot, but there was a big boss who was directly frozen by 43 police stations.
Don’t panic if your bank card is frozen, solve the problem step by step!
Recently, OTC card freezing incidents have occurred frequently, and many cryptocurrency friends have been hit one after another, making it difficult for many new and old investors to guard against it.
I will share with you how to prevent your bank card from being frozen and how to take proactive measures to unfreeze your account.
When conducting fiat currency transactions on exchanges, OTC is a necessary channel for fiat currency in and out. However, some traders have their bank cards frozen after trading, and recently not only bank cards, but also Alipay or WeChat have been frozen.
First of all, the "card freezing trend" is not a recent phenomenon, but a common one. Many platforms have people discussing these issues in their communities, chat groups, or on Weibo. Although you may not be surprised after hearing about it so many times, in order to avoid such a thing happening to you, it is better to keep this anti-freezing guide.
So let's discuss why cards are frozen, ranging from a few hundred or a few thousand to millions or tens of millions. Is there any choice for freezing cards? Is it because of non-compliant operations or illegal activities? Not necessarily.
First of all, freezing cards is not aimed at digital currency transactions themselves, but at cracking down on forces that use digital currency to commit illegal acts.
In recent years, financial fraud incidents have occurred frequently at home and abroad. The hidden characteristics of digital currency make it the most suitable medium for money laundering. Many financial frauds, telecommunications frauds, gambling platforms, and evil forces use it to transfer funds and make money. Some criminals will even collude with digital currency over-the-counter traders to make money, making it difficult for all cryptocurrency platforms to defend themselves.
Even the leading exchanges are not immune. The "suspicious assets" circulating in the exchanges naturally become the focus of supervision by judicial authorities.
In fact, what the country has been cracking down on is never Bitcoin, but the dark forces behind the circulation of Bitcoin that attempt to use it to make money. Many criminal gangs launder money through USTD and BTC transactions. This money laundering method is more hidden and difficult to track than traditional methods, and it saves a lot of transfer fees.
Types of frozen cards?
Although no one wants their bank account to be frozen, if you accidentally win the lottery, you should first know the types of bank card freezing. Generally, there are two types: temporary freezing and judicial freezing.
If your bank card is temporarily frozen, you can wait for three days. If the source of the money received is a case involving a small amount of funds and a large number of people, or if the reporter does not provide relevant evidence to the judicial department, it will be automatically unfrozen after 3 days.
However, if the amount of money you withdraw from the OTC trading center is relatively large, or the source of funds is close to first-hand black money, or it involves politically sensitive issues, then your bank card will be frozen by the judiciary for half a year.
If it is not properly handled within six months, it may be frozen again after six months. Some friends in the cryptocurrency circle have successfully withdrawn their bank cards after a period of time after their bank cards were frozen. It is possible that the case of telecommunications fraud involved has been closed and the bank cards will be automatically unfrozen after the case is closed.
However, if the funds of OTC transactions involve kongbu organizations, dupin transactions or politically sensitive issues, things will become quite tricky. Some unlucky coin friends said that their money has not been unfrozen after being frozen for two years, so the money may be wasted.
In short, illegal funds flow from victim A to B, then to C and then to D in a step-by-step manner. The closer to the first-hand transaction, the greater the risk and the greater the difficulty in unfreezing, and vice versa.
What to do after the card is frozen?
What should you do after your card is frozen? First of all, don't panic or feel guilty. Just deal with it. If it is just a temporary freeze, it will be automatically unfrozen after three days. After it is automatically unfrozen, you should not take it lightly and transfer the funds out of the frozen account as soon as possible.
However, most of the freezes in the cryptocurrency circle are judicial freezes. If it is not unfrozen after three days, it is a judicial freeze. You need to go to the local bank where the bank card is located with valid documents and inquire at the counter about where and which judicial department has frozen the account of the coin friend. Then you can check online or call 114 to ask where the judicial department is, and then contact the police there to cooperate with the investigation.
If you are using a compliant exchange to legally buy and sell coins and withdraw digital assets, you don’t have to be afraid. You can contact the relevant judicial authorities. Generally, they will ask you to provide platform transaction records, bank card transaction records, etc. to cooperate with the investigation. The results of the handling are nothing more than the following:
First: Ask coin friends to provide relevant transaction records, work certificates and statements, etc. Most of them can be unfrozen about one month after the information is uploaded.
Second: When the police take the initiative to come to your door to inquire about the case, this situation is relatively easy to handle. If you actively cooperate with the investigation, the case will usually be unfrozen after it is closed.
Third: The police directly tell you to wait for the case to be closed.
Fourth: The police will directly notify you that the item has been unfrozen ** days later.
Fifth: For more serious cases, please go to another place to cooperate with the investigation. If it is a developed area, it is okay. But if it is a remote area, the police may invite you to "have tea" in order to improve the efficiency of solving the case.
If only part of the money in the frozen card of a coin friend contains the amount involved in the case, for example, there is 200,000 yuan in your card, but only 50,000 yuan is of unknown origin, then you can apply to freeze only the 50,000 yuan. Such an operation will not make it difficult for the police. If you encounter someone with a bad attitude and who is difficult to talk to, don't give in. You can go to the inspection team to complain, or form a group to petition. After all, the coin friend is not at fault at the legal level.
How to prevent card freezing?
Since frozen cards are so troublesome, how can we avoid the frozen card minefield? There are ways.
Apply for multiple cards: Those who trade in cryptocurrencies should first apply for several bank cards. Business cards in the cryptocurrency circle should not be used together with salary cards or wage cards. Each card must be used for a specific purpose. And before withdrawing money, you must first make sure that the card has not been frozen. After being frozen, you can deposit money into but not withdraw money from the card (many unlucky crypto friends transfer money to the card without knowing that their bank card is frozen). You should first transfer a sum of money from the card to try, and use it as a withdrawal card if it has not been frozen.
Filtering after withdrawal: After receiving the funds, you can choose to recharge to Alipay, then transfer to Yu'ebao, and then transfer from Yu'ebao to other bank cards; or recharge to a wealth management platform such as Lufax (make sure the platform is reliable and will not run away) and then transfer to other bank cards, preferably a small local bank.
Withdrawal after withdrawal: After withdrawal, go to the bank to withdraw the money, then change banks to deposit the money into other bank cards, or bank cards of family members or couples.
Pay off the debt after withdrawing funds: Use credit cards, Huabei or Baitiao for daily consumption, or use Jiebei to borrow money from a normal card, and use the money in the cryptocurrency circle to pay off the debt directly after withdrawing funds.
Compliance with the law is the kingly way. When withdrawing funds, if you receive a non-real-name payment, be careful and return it in the same way. If you encounter a special discount trap in OTC transactions, be extremely cautious and do not be greedy for small gains and lose big.
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