If you made 20 million from trading coins, now you want to sell them at the exchange and convert to RMB.
You searched through countless U merchant advertisements and ultimately chose one that looked decent for the transaction.
The U merchant transferred to your account via Alipay, WeChat, or bank card, you confirm the transaction is complete, 1 million USDT has arrived in the U merchant's account.
In this stage, the exchange acts as a guarantor, temporarily locking your USDT until the merchant completes the payment, you confirm the information, and the exchange releases the funds. There should be no issues throughout, the only issue that might arise is...
The 1 million the merchant sent you has illicit funds!
This is an unavoidable part of your withdrawal process; how can you confirm that the merchant's funds are legitimate?
Days of accumulation? Promise of frozen card compensation? The reputation of old coin merchants?
Which one... tell me which is useful? None of them are useful. Countless frozen card cases tell everyone that this frozen card is a low-specification 'black swan' event; when the funds will collapse depends entirely on when the victim reports the case. I have a friend whose card was frozen two years later!
Be clear, it will be frozen two years later! He himself was confused and prepared to find trading orders to appeal, but the exchange had already cleared out, what information could be checked!
The fundamental reason for card freezing is:
1. You don't know if the money transferred by the U merchant has any issues.
2. Even if there are no issues this time, a few months later, the funds involved from the last incident will be traced and frozen.
3. Even if there are no issues, the other party may be flagged by the bank's big data risk control for frequently depositing and withdrawing funds, leading to the freezing of related cards.
4. Lastly, your domestic card frequently deposits and withdraws funds, which is inconsistent with your previous identity; quick in and out without retention time will also trigger the bank's risk control and freezing.
Hehe, it can indeed be checked, but this belongs to on-chain technology, temporarily not to be discussed. This isn't about deposit and withdrawal information being checked by authorities, but rather that the bank card is being monitored by the anti-fraud big data center...
The logic here is that online gambling brothers often use USDT for transactions, and then sell and buy coins on some exchange platforms. Due to the high frequency of transactions, their bank cards have been monitored by big data for past interactions with cards flagged by the anti-fraud center.
Most coin merchants' bank cards are high-risk cards. If you interact with them for a long time, your bank card will also be tagged as 'fraud' in big data.