海龟量化先锋

The exchange buyer U was defrauded, and the currency trader's account was frozen (from Coinsradar.net)

A currency trader in the group said that the buyer bought 67,000 USDT from him, and there was no problem with the transaction flow, phone recording, and identity information. Soon after the transaction was successful, the currency was defrauded. A month later, the police were called, and the currency trader's two bank cards and two Alipay accounts were frozen.

The Alipay account of the downstream partner with an amount of 50,000 inflow was also frozen, and the currency trader went to collect the currency at this time, resulting in a retail investor who sold U to the currency trader being frozen.

The buyer also added the currency trader as a WeChat friend, so there was a chat record, clearly stating that he used it for gifts, contracts, and I used my own money to buy the currency.

After sorting out the case, we wrote the materials and established contact and communication with the uncle. The content of the materials is divided into:
1. Basic situation
2. The concept of C2C transaction
3. About legal relationship
4. About the legality of the transaction
5. About some understanding of the buyer's purchase of virtual currency
6. About the facts and reasons for the unfreezing request

Only if you prepare these materials and evidence in advance, you can establish contact and communication with the uncle in the next step. Many bloggers tell you to go to the bank to get the freezing agency and call directly. What do you say?

Why did you freeze my card?
Uncle: Who are you?
How to freeze your card? Don't you have any A number?

So we prepared the basic situation, our own name, ID number, work unit, and residential address, so that the uncle can know that you are a real person. And the freezing time, what account is restricted to explain, the request is to unfreeze the account.

For example: I am a registered user of "XX", the world's largest virtual currency trading platform. From X month X, 2024, I found that my Alipay and bank accounts were successively frozen by the ** brigade of the ** branch of the ** bureau of Foshan City, ** Province. According to self-examination, the freeze was caused by a transfer transaction with the buyer.

In this way, I know why it was frozen, and the communication with my uncle will be smooth.
Next, I have to find a way to prove the legitimacy of my transaction.

The exchange model is also called C2C transaction (Taobao model), and the specific concept refers to a point-to-point transaction model between individuals.

In the virtual currency circle, it can also be called OTC transaction (the platform does not act as a central counterparty, and the transaction model is reached by users and users). Buyers and sellers seek counterparties in the trading market or through random matching on the trading platform. After reaching a transaction intention on a certain virtual currency, they transfer and pay according to the account information of both parties (using Alipay, WeChat or bank transfer), and the seller delivers the subject matter for them after confirming the receipt of payment.

Because uncles in many places may not understand virtual currency, and some uncles who are not familiar with this field and are older will directly think that virtual currency is illegal.

So you have to explain what the transaction model is from the uncle's perspective. You can't stand from your own perspective and directly say OTC transaction. What if the uncle doesn't understand, right? You need to explain it clearly.

Knowing the transaction model, what kind of legal relationship is there between the currency dealer and the buyer?

As the buyer, the buyer pays the corresponding consideration to the currency dealer through Alipay and bank card transfer. After the currency dealer receives the funds, it transfers the virtual currency USDT subject to him.

The currency dealer and the buyer are in a sales contract relationship. The buyer's 67,000 yuan transfer funds are obtained in good faith after I have delivered the corresponding equivalent consideration, the subject matter of the USDT virtual currency.

So we have to predict what you will do if the uncle tells you that trading virtual currency is illegal?

So here we have to give some examples of policy documents, laws and regulations on the legality of transactions.

(1) The People's Bank of China, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission jointly issued the "Notice on Preventing Bitcoin Risks" (Yinfa [2013] No. 289) on December 3, 2013.
According to Article 1 and Article 5 of the Notice, virtual currency is a virtual commodity and rational investment is allowed.

(2) On December 5, 2013, the People's Bank of China issued the policy interpretation document "Answers to Questions from Reporters on Bitcoin-related Matters".
According to the last answer, virtual currency is a commodity trading behavior on the Internet, and ordinary people have the freedom to participate on the premise of assuming their own risks.

(3) The People's Bank of China, the Central Cyberspace Affairs Commission, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly issued the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation" (Yinfa [2021] No. 237) on September 15, 2022.

According to the provisions of Article 1, Item (4) of the Notice, on the premise that it does not violate public order and good morals, the virtual currency purchase and sale contract relationship between citizens does not constitute an invalid civil legal act.

The last point is very important.

With a legal basis and a legal relationship, we need to prove that we have an audit obligation and have warned of risks. At this time, we need to show some chat evidence and call recordings to prove that we have warned of risks.

Through these evidence materials, the currency dealer can conclude that, excluding the situation where the buyer himself invests in virtual currency and suffers losses, he knows and understands the losses and risks after the virtual currency is transferred to other people.

Since he knows the risks and transfers the objects in his control to a third party after the delivery of the sales contract, the risk should be borne by the buyer himself. It is the currency that is cheated, not the money. The uncle should investigate the flow of the currency.

The money received by the currency dealer is obtained in good faith. According to the definition of virtual currency as a "virtual commodity", virtual currency has economic and interest value, and the asset delivery has been completed under the guarantee of the Binance platform. Now that the other party's assets have been defrauded by others, the public security organs can send a letter or an investigation order to the Binance platform to track the flow of related assets and recover the relevant virtual assets.

The currency dealer can also directly sue the buyer for the invalidity of the sales contract and demand the return of digital assets. This is our next idea.

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