USDT Exchange? 1.18 billion major case leads to direct sentencing!

Recently, the 1.18 billion major case in Beijing has completely shattered the 'gray fantasy' of exchanging USDT! Five people were sentenced to 2 to 4 years for helping others use USDT for cross-border currency exchange. If you or someone around you is still involved in this matter, this article is a must-read!

❌ Don't think that 'it's just an exchange' is not illegal anymore

This case in Beijing involves 1.18 billion, and it's neither fraud nor money laundering, but because they used USDT to help people exchange Renminbi for foreign currency, it was classified as illegal foreign exchange operation.

Many people think, 'I’m just trading a virtual currency, helping a friend with foreign exchange,' what's the big deal? But the judicial authorities look at the essence of the transaction—you're secretly converting Renminbi to foreign currency without state approval, treating foreign exchange regulation as if it doesn't exist!

Think about how 'extreme' this operation is:

- Bypassing the annual personal foreign exchange quota of 50,000 USD

- Evading banks' scrutiny of the purpose of funds

- Avoiding the layers of identification for anti-money laundering

- Even skipping cross-border declaration

Isn't this just the routine of underground banks exchanging currency?

🔗 Don't think that being a 'small character' means you're safe

Never think that only the leaders will be caught; everyone in the entire exchange chain might end up 'inside':

- Those helping with the payment: Don't say 'I just received some money'

- Those helping to buy and sell USDT: Don't think 'I just transferred a coin'

- Those responsible for transferring USDT abroad: The cross-border risk is the greatest

- Intermediaries facilitating transactions and recruiting people: As long as it involves exchanging Renminbi for foreign currency, you can't escape

🧐 Don't believe that 'virtual currency anonymity means it can't be traced'

Many people think that on-chain transactions are anonymous, and the police can't do anything about it? But in this case, the authorities directly uncovered the truth:

- Bank transaction records and on-chain transfer times are tightly synchronized, and where the funds went is crystal clear

- Special audits clearly accounted for each person's amount, role, and how much they earned

- Platform data combined with on-chain address tracing makes you as transparent as glass before police technology

💡 Highlight! Virtual currency itself is not a problem, but its usage can be fatal

In fact, virtual currency itself is not a crime, but using it to evade foreign exchange regulation for currency exchange is a big issue. If you are still engaging in USDT payments, cross-border fund collection, or similar activities, it's time for a legal risk check; if necessary, consult a professional lawyer, and don't step on this big landmine!