You must conduct deposits and withdrawals on the platform. Below are real incidents of private transactions that did not occur on the platform. If you trade USDT or other cryptocurrencies, after the other party receives the USDT or coins, they may claim they haven't received it and refuse to give you the cash you brought. Similarly, after an online transfer of USDT, the other party may not transfer the RMB, claiming they haven't received it and stop responding to your messages. The other party's behavior constitutes fraud, and you can file a report citing that you were defrauded of USDT or other assets. Once the public security agency intervenes, they can seize the other party's cash or freeze their account, and after a court ruling, it will be returned to you.

However, in reality, attempting to file a case can be described as extremely difficult. Many people who have encountered such incidents say they managed to control the other party and took them to the public security bureau to report the incident. However, the response from the public security agency is that they cannot file a case. The reason is that the 2021 Notice No. 924 stipulates that activities related to virtual currency are considered illegal financial activities, and trading virtual currencies is a risk that must be borne by the individual. They refuse to file your case, claiming that trading USDT is not protected by law, leaving you to find a way to resolve it yourself.

In fact, some law enforcement units' understanding of this is somewhat one-sided. The 2021 Notice No. 924 does not negate the property attributes of virtual currencies. Virtual currencies have value and can be objects of property crime, falling under the protection of criminal law. The behavior of the other party actually constitutes fraud and falls within the scope of criminal case filing. The risk borne in the Notice No. 924 refers not to the criminal law area, but to the civil law area, indicating that investment and trading activities carry risks that must be borne by the investor.

If you encounter a public security agency that refuses to file your case, you can seek to apply for case filing supervision from the higher-level public security agency or the same-level people's procuratorate. If you find yourself in a position to control the other party during such an incident and still can't retrieve your assets... it only means you are a compliant and law-abiding citizen.