An investor holding 900,000 USDT was preparing to cash it out through offline cash transactions. Although he was extremely cautious in the small amount test and currency verification steps during the process, he still fell into a carefully designed scam. Not only did the virtual currency disappear without a trace, but the 900,000 cash was also difficult to recover due to insufficient evidence.
This is not an isolated case. As virtual currency transactions become increasingly popular, criminals use various means to launder money, resulting in many normal traders being implicated. For example, recently an investor cashed out 2 million yuan and had his account frozen by 43 public security agencies at the same time, with no sign of unfreezing.
Due to the risks of online transactions, many people choose offline cash transactions. However, this seemingly safe method also hides enormous traps. In a recent case, an investor carried 900,000 USDT for offline trading and met the buyer through an introduction to avoid account freezing risks. The entire transaction process was meticulous: small amount testing, confirming banknotes, and other steps were not overlooked. However, after the seller completed the entire transfer, the buyer immediately uninstalled the wallet software and denied receiving the coins.
What’s more complicated is that the buyer had premeditated this and communicated entirely through Telegram, leaving no traces, and could also delete chat records on both sides. After reporting to the police, although 900,000 cash was seized, due to insufficient evidence, it may ultimately be returned to the scammer through legal procedures.
This kind of 'denial' scam is still a basic tactic; more sophisticated schemes include 'chain wallet authorization' fraud and even arranging substitute transactions, ultimately claiming to be just hired 'temporary actors.' In the gray areas not fully covered by law, various scams emerge endlessly.
How to protect yourself in cryptocurrency trading? The following points are particularly important:
1. Record audio and video throughout the process to clearly document the other party's identity and transaction details.
2. Avoid using overseas chatting software like Telegram and Bat.
3. Use real-name platforms like WeChat to confirm the coin receipt address and wait until the withdrawal period has passed before transferring.
4. Sign a paper contract if necessary to retain solid evidence.
The state takes a cautious attitude toward cryptocurrency trading, making it even more difficult for victims to protect their rights. Investors should remain highly vigilant and try to choose reliable acquaintances for transactions. After all, once deceived, one faces not only financial losses but also the possibility that legal aid may not have any effect. Strictly adhering to risk control and cautious trading is key to ensuring the safety of funds.
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