Source: Mankiw Blockchain Law
Regarding the purchase and sale of USDT, what everyone is most concerned about is trust and fund security. This is also a practical problem that we have noticed when dealing with many bank card freezes. Many card owners accidentally "fell into the trap" during the process of withdrawing USDT, and their bank cards were frozen due to "accidental injury". At this time, bank card restrictions will bring a lot of inconvenience to life and work. Based on our processing experience, today we will talk to you about the misunderstandings about bank cards being frozen during the U-exit process. Card owners can refer to them and avoid them.
When buying and selling USDT, on-exchange transactions must be safe, but over-the-counter transactions must be unsafe? it's not true. We have encountered situations where the buyer was matched and connected through the platform, but the bank card was frozen after receiving the payment from the buyer. Therefore, even if the buyer is matched by the platform, we cannot 100% confirm the safety of its source of funds, but overall it will be more secure than OTC transactions.
What about OTC trading? In fact, OTC trading attaches great importance to the trust foundation of both parties. It is recommended that you purchase USDT from friends you know and have met offline, and try not to trade with strangers who have been introduced through multiple channels.
If when withdrawing USDT, the other party says to pay by cash transfer, will there be any problem?
We have encountered such a situation in practice: a buyer said that all payments were made in cash, and the seller received a cash remittance of more than 100,000 yuan. The seller originally thought that the other party took the cash and remitted it to the bank. The money was not at great risk, but his bank card was frozen after receiving the payment.
After communicating with the police officer in charge, we learned that the hundreds of thousands of yuan were actually stolen money involved in fraud, but the buyer's personnel withdrew the cash through the bank and remitted it to the seller.
Yes Can the guarantor guarantee the safety of the transaction and the legality of the funds?
Friends who understand the virtual currency market will know that for some USDT over-the-counter transactions, buyers and sellers will find a neutral third party as a guarantor to be responsible for connecting transfers and transferring USDT, and also to bear witness. The guarantor’s role in the transaction is mainly to ensure the safety and reliability of the transaction.
Reliability can be guaranteed to a certain extent. After all, handing over money and USDT can be done under the witness and intervention of the guarantor. However, the security of the transaction is difficult to completely ensure through third-party guarantee, because we still do not know the buyer’s relevant information and source of funds.
After listening to the above situations, you may say that the lawyers are alarmist. According to this, no USDT transaction method is safe! Of course, I also want to explain to you here that the situations where bank cards are frozen that we encounter are both special cases and typical ones. In the above scenarios, bank cards have been frozen, but it does not mean that the bank card will definitely be frozen in the above situations.
We discuss the above misunderstandings with you based on practical experience, and also to improve the risk awareness of card owners, avoid freezing of bank cards as much as possible, and protect their legitimate rights and interests as much as possible.
If the card owner is in the process of USDT transaction What should you do if you are accidentally "accidentally injured"? The lawyer also gave some advice here.
First, try to verify the identity and relationship of the docking person and payer during the USDT transaction process. If it is a buyer who connects through the Internet, no matter what WeChat account he uses, try to confirm the true identity of the connecter and payer, as well as the relationship between the connecter and the payer (many transactions instruct other people to pay , which also increases the risk).
Secondly, regarding the security of funds, it is best to ask about the source of funds. This can be tested by asking the buyer to provide bank statements for a certain period of time.
Third, try to avoid over-the-counter transactions with unfamiliar network personnel. It is best to trade USDT through people you know, such as real friends or acquaintances. In this way, even if there is a problem in the transaction, we can still find the relevant personnel, so that we will not have no way to ask for help or be blacklisted after the bank card is frozen.
Fourth, during the transaction process, try to keep records of the entire process, and do not delete chat records to avoid losing relevant records due to leaving the group or being kicked out of the group.
Of course, if you have fulfilled your duty of care and your bank card is still frozen accidentally, there is no need to panic. You must apply for unfreezing as soon as possible. You can refer to the following steps:
Ask the bank about the freezing authority and contact the responsible police officer.
Submit descriptions and evidence materials related to the incident to eliminate the suspicion of personal involvement. The public security will unfreeze those that meet the conditions for unfreezing.
If the public security raises doubts and requests during the process of applying for unfreezing, on the one hand, the card owner should cooperate with the investigation, and on the other hand, it should be handled flexibly to safeguard its own rights and interests.
We hope that every USDT trading participant can increase risk awareness and protect the safety of his own funds. Currently, it is very common for bank cards to be frozen. Even if you encounter it, you don’t have to be too impatient or worried. As long as we use a positive attitude and handle it in the right way, we can basically get the appropriate unfreezing result.
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