A lawyer friend told me: In this week alone, there have been more than a dozen consultations on cases of people being arrested for buying and selling U with cash. The common point is that they all drove to other places to trade U in cash and paid for it with no credit cards. Some were arrested by the public security organs on the spot halfway through the transaction, and even the drivers were arrested. Some were arrested by the public security organs in other places two weeks later. Some were taken away and detained again by the public security organs in another place just after they were released on bail.
It's all because the cash is not clean, and the funds from the online fraud are involved in telecommunications network fraud cases, and finally the case is traced back to the buyers and sellers of U. When you buy and sell U offline with cash, it is easy to encounter a queue of people on the first and second lanes, and when the transaction amount is hundreds of thousands per order, it is easy to be suspected of online fraud and money laundering. What awaits you is 37 days of criminal detention, and you may be released on bail or arrested later. It all depends on whether your transaction pattern can be inferred that you subjectively knew that it was a fraud.
This year, the number of cases involving cash buying and selling of U has increased significantly. Local fuel/U merchants are obviously being caught more often. Have you encountered this? For example, U merchants in Shanghai, oil merchants in Qingdao, U merchants in Yiwu, postal merchants in Chaoshan, and U merchants in Chongqing, etc. This refers to engaging in cash buying and selling of USDT under names combined with regional names or by starting with the name of regional U merchants.
Local names combined with U merchants involve agreeing on a place for on-site transactions, where the other party gives cash, and then you complete the transaction. Just a few days later, authorities suddenly show up, take you to another location to take a statement, and directly inform you that the funds you received are linked to fraudulent activities, involving fraud and money laundering, leading to criminal detention. The detention order will state fraud or concealment.
Local U merchants do not verify the other party at all during the transaction process. They adhere to the principle of doing business as long as there is an order and making a profit. As long as it is confirmed that the other party has received U, the transaction is completely finished. However, the entire process involves floating sales by a few cents or a few dimes. The chat records only contain simple transaction information such as price, quantity, and transaction location, without inquiring about the other party's purpose for buying or other verifications. The cash from local U merchants is generally the money of scam victims. If you look for these U merchants to withdraw or deposit funds, there is a high possibility that you will receive these scam funds. Such individuals are often suspected of being involved in fraud and money laundering when authorities investigate you and the U merchants. Once it is determined that you knowingly engaged in cash transactions, they are likely to classify it as a concealment crime. The amount of cash transactions is usually large, starting from hundreds of thousands, which constitutes a serious concealment crime, leading to a prison term of 3 to 7 years.
So the final reminder for everyone is to stay away from offline cash trading with U merchants.
