Once you receive black money during the withdrawal process, your bank account will most likely be frozen by the court. Similarly, if you receive black U (i.e. USDT from illegal sources), your account at the exchange will also most likely be frozen by the public security authorities. So how do you identify black U? Today, I will talk about the main sources of black U that I know of, just as a reminder to everyone, and we won’t argue about absolute right or wrong.
First, some exchanges are legitimate on the surface, but in fact they secretly collude with online gambling platforms and become their "accomplices." They induce gamblers to exchange RMB for USDT, which is U. These U’s originate from gambling activities, which are fundamentally “unclean” and are completely black U’s. What's more, some OTC merchants "move bricks" in order to earn the price difference, but they don't know that their behavior may have violated criminal law and constituted the crime of assisting information network criminal activities.
Secondly, nowadays online gambling platforms are becoming increasingly cunning. To evade police investigations, they have replaced traditional RMB chips with USDT. If gamblers want to participate in online gambling, they must first recharge with U. But have you ever thought about it? All the illicit gambling proceeds will eventually be withdrawn and converted into cash at designated exchanges. Once an online gambling platform is exposed, all related wallet addresses will be marked, and any U that flows in and out will instantly become black U. If the police trace the money, and find that your account on a certain platform, such as Anyan or Yiyu, has had transactions with these involved addresses, sorry, your account will be identified as involved in the case, and a freeze is inevitable.
Thirdly, how do telecom fraudsters 'clean' their black money after a successful scam? One of their methods is to go to exchanges and exchange the victim's clean U for their own black money. This way, the clean U also gets tainted. After several rounds of transactions, the black money transforms into seemingly legitimate funds. The black U continues to circulate in the hands of those who have traded with it, and if you inadvertently transact with a fraudster, once public security monitors your account, a freeze notice will soon be sent.
Therefore, when trading cryptocurrencies and transferring funds, we must not only be careful not to receive black money, but also be vigilant against getting involved with black U; otherwise, the consequences could be endless. What should be done to unfreeze an account after being judicially frozen? How to avoid receiving black money or black U? What are the dangers of black money transactions?
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