When it comes to buying and selling USDT, what everyone is most concerned about is trust and financial security. This is also a practical issue we 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 withdrawal process. Card owners can refer to them and avoid them.
01 Misunderstanding 1: Bank cards will not be frozen for on-site transactions
When buying and selling USDT, on-exchange transactions must be safe, but over-the-counter transactions must be unsafe? its 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 it is generally 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.
02 Misunderstanding 2: Cash remittance will not be frozen on the bank card
If when withdrawing USDT, the other party says to pay by cash transfer, will there be no 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 there would be no great risk in the other party taking cash to the bank to transfer the money. , 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 was actually stolen money involved in fraud, but the buyers personnel withdrew the cash through the bank and remitted it to the seller.
03 Misunderstanding 3: Having a guarantor can ensure the safety of funds
Does having a guarantor guarantee the safety of the transaction and the legality of the funds? Friends who understand the virtual currency market will know that in some USDT over-the-counter transactions, buyers and sellers will find a neutral third party as a guarantor to be responsible for the transfer of funds and USDT, and also to bear witness. The guarantors role in a transaction is mainly to ensure the safety and reliability of the transaction. Reliability can be guaranteed to a certain extent. After all, paying money with one hand and USDT with the other hand 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 lawyer is being 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 our actual experience, and also to improve the risk awareness of card owners, avoid the situation of bank cards being frozen as much as possible, and protect their legitimate rights and interests as much as possible.
04 Mankiw lawyer’s advice
What should the card owner do if he is accidentally accidentally injured during the USDT transaction? 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. 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 risk).
Second, regarding the security of funds, it is best to ask about the source of funds, which 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 online people. It is best to buy and sell 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 seek 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 still accidentally have your bank card frozen, 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 also handle it flexibly to safeguard its own rights and interests.
It is hoped that every USDT trading participant can improve 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.
Special statement:
This article is an original article by Shanghai Mankiw Law Firm. It only represents the personal views of the author of this article and does not constitute legal consultation or legal opinions on specific matters. If you need to reprint the article, please contact Mankun Law Firm staff: MankunLawFirm
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