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Received a call from the police checking virtual currency? Don’t panic! 3 steps to pass smoothly

“Hello, this is the XX City Public Security Bureau, we need to understand your previous virtual currency trading situation…”

Once you receive this call, no matter how many years you’ve been trading, you’ll likely break into a cold sweat. But don’t rush! The more anxious you are, the easier it is to say the wrong thing. Follow these 3 steps to respond, which will not only avoid delaying the investigation but also help you avoid pitfalls, proven practical!

Step 1: Take a calming pill first, personal trading is not illegal
If the police ask whether the trading is compliant, just say clearly: “Personal buying and selling of virtual currency is not illegal, but if it involves dirty money, I will definitely take responsibility.” The key is to let the police know that you are just an ordinary retail investor, trading either on a legitimate platform or with acquaintances, and you haven’t been involved in anything illegal. A sincere attitude is more effective than anything else.

Step 2: Don’t rush to argue when asked to return money, cooperation + keeping evidence is reliable
If they say the money you received has issues and want it returned, don’t rush to push back. First, state: “I will fully cooperate with the investigation, whatever you say goes.” Then quickly organize and hand over your transaction records, transfer screenshots, and chat records. The more you cooperate with the investigation, the smoother it will go, and it’s also less likely to freeze your other bank cards. Being confrontational will only escalate small issues.

Step 3: Respond according to the situation, cooperation means no issues
It’s crucial to distinguish: if it involves illegal activities, the account may be frozen entirely; but if it’s just a normal trading error receiving problematic money, generally only the card receiving the payment will be frozen. Remember, good cooperation will never leave a record, but if you refuse to cooperate, the nature of the situation changes, and the consequences will be more severe.

Trading virtual currency is not like buying vegetables; every transfer hides risks. You must check 3 points regularly: whether the other party is reliable, whether the funds are clean, and whether the wallet address is safe. In the cryptocurrency circle, being stable is much more important than making quick money. Protect your wallet and avoid getting into pitfalls is the way to go!

Sister Yu deeply engages in BTC and ETH contract spot trading, the team still has vacancies. Follow the professional rhythm, both stable and profitable, come and hop on! $BTC $ETH #币安HODLer空投AT #加密市场反弹

Bought some big pancakes, looking bullish, I'm going to take a nap now, you guys keep an eye on it.

Last night, the market plummeted, and many people believe the reason is Trump, but this is just a factor from the news side. The core reason is that the stablecoin $USDE depegged last night, causing many leveraged contracts using USDE as margin to be liquidated, resulting in heavy losses not only for retail investors but also for many market makers.

I have previously emphasized to everyone not to hold any stablecoins other than USDT and USDC. Wasn't the lesson from the last bull market with LUNA and USTC painful enough? Once a stablecoin crashes, it goes directly to zero. Although USDE was pulled back last night after depegging, it is because we are still in a bull market, and the project team has funds. When the bear market arrives, if a stablecoin depegs, it is very likely to head towards zero, which will crash the entire market at that time.
{spot}(USDEUSDT)

📢 Recently, I've seen many friends' Alpha accounts being restricted. Most of the time, it's due to improper operating habits. I've organized a few common reasons for you to check if you've fallen into the trap 👇

2️⃣ Frequent internal transfers of U
Many people frequently transfer U back and forth between several accounts, especially transferring right after completing tasks, which easily attracts restrictions! It's recommended to transfer to another exchange first before transferring back for better safety.

4⃣️ Directly grinding new accounts
Newly opened accounts only grind Alpha points without interacting in the plaza or trading spot/contract, making it easy for the system to monitor them. The correct approach is to "nurture the account" first: casually conduct a few spot/contract transactions or buy some coins to hold, and don't rush in to grind immediately.

1⃣️ Script trading
Some people use scripts to artificially inflate their trading volume to save on transaction fees, even purchasing unknown scripts, which can directly land them on the blacklist. Saving a little in the short term can lead to significant losses in the long run.

5⃣️ Wallet tasks + IP issues
When doing wallet tasks, using a VPN, but then failing to turn it off while posting or commenting can lead to abnormal IP jumps, which the system will notice.

3⃣️ Multiple accounts operating from the same IP
If several phones are grinding Alpha together while all connected to the same WiFi, the risk is particularly high. It's best to use different network environments and avoid clustering on a single IP.

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🔑 In summary: Platforms don't restrict accounts without reason; it's usually due to "human operations" that lead to restrictions. Everyone should pay attention to nurturing their accounts and participating normally in activities to avoid being mistakenly affected.

Follow Da Xiong for more information #alpha