In the middle of the night, the phone vibrated, and the screen was full of exclamation marks— I knew it, someone has stumbled at the final step again.
At half past one in the morning, I had just closed my computer to rest, and my phone was buzzing non-stop. When I opened it, the chat box from Lao Wu was filled with glaring exclamation marks: "Teacher! 280,000 has just been transferred to the card, and the bank has directly locked it! The interface shows 'Suspended non-counter transactions,' the money won't be gone, right?" I instantly sobered up—Lao Wu had entered the circle last year with 100,000 USDT, and I had him split it into three parts: 60,000 to trade BTC in segments, 30,000 to follow the SOL trend, and 10,000 to lock in a cold wallet. In six months, he made 80,000 from BTC trading and another 100,000 from SOL bottoming out. Just as his assets were about to double, he rushed to transfer money to his son for a down payment and stumbled at the final step.
On the phone, Old Wu's voice trembled: 'To save 500 yuan on the price difference, I found a new seller to buy USDT, and as soon as the money arrived, I transferred it to my bank card, but it got locked in just two hours!' I understood immediately that this was stepping on the ‘dirty money’ landmine—upstream funds might be related to fraud, and as an unaware receiving party, he was frozen along with it.
1. Why can you earn money but not keep it?
Old Wu's case is not an isolated incident. Many people can accurately time the market on candlestick charts but fall at the last hurdle of 'withdrawing funds.' Asset movement in the crypto space heavily relies on OTC (over-the-counter trading), and the biggest risk in the OTC market is not price volatility, but the cleanliness of the fund chain. Once the counterparty's funds are involved in illegal activities, even if you are completely unaware, your bank card may be implicated and frozen. More seriously, if you cannot prove your innocence, some funds may even be deemed as involved funds and confiscated.
2. How did I help Old Wu unfreeze step by step?
First, I had him stabilize his mindset, telling him that as long as the transaction is real and legal, 90% of freezing cases can be resolved. Then I guided him through three steps:
Evidence Solidification: Organize all OTC transaction screenshots, chat records, bank statements, and even seller page review screenshots, printing out 30 pages of materials;
Legal Process: Accompany him to the police station to make a record, emphasizing that he was 'unaware, did not profit, and the transaction purpose was legal';
Bank Communication: When submitting materials, repeatedly clarify that this is a normal crypto transaction and promise to operate in a regulated manner in the future.
Throughout the process, Old Wu was always worried about losing money, and I reminded him: 'Panic doesn’t solve problems, but processes and evidence can.' At the same time, I had him urgently contact the trading platform’s customer service to explain the situation and request the seller's qualification records—this step later proved crucial, as the platform intervened and verified the seller's historical transaction data.
3. A Bloody Lesson: Iron Rules for Crypto Fund Safety
A week later, the bank card was unblocked, and Old Wu brought me fruit to thank me. But what I cared more about was whether he truly learned the lesson. I reiterated three iron rules to him:
Dedicated Card Isolation: Absolutely do not use salary cards or daily-use cards for OTC transactions! Get an independent bank card only for crypto funds going in and out, so that even if problems arise, it won't affect normal life;
Seller Selection Principle: Only choose certified sellers with transaction records exceeding 10,000 and a positive feedback rate of over 99%, refusing any newly registered or suspiciously discounted sellers;
Batch Testing: Before large transactions, first test with a small amount to see if the process is smooth, and only proceed with the main transaction after confirming there are no issues.
Later, Old Wu obediently applied for a 'crypto-specific card', and the seller only chose top-rated merchants certified by the platform. Seeing him successfully transfer out 280,000 for the down payment, I couldn't help but repeat that phrase I've said countless times: 'In the crypto world, winning depends on the market, but keeping it safe depends on funds.'
4. Personal Opinion: Safety is not a cost, but an investment
Many people find safety measures cumbersome, but Old Wu's case starkly proves: the time cost, psychological pressure, and potential losses from one freeze far exceed any convenience from being 'hassle-free'. Industry lawyer Jiang Qian pointed out after the JPEX case that investors should not only retain transaction records but also understand how to defend their rights through legal means (such as asset freeze orders)—but these are all preventable.
Now, every time I bring newcomers into the circle, I emphasize: you may not understand technical analysis, but you must memorize the rules for fund safety. Because the on-chain world never rewards the reckless, only punishes the lucky ones.
If you have ever skipped safety steps for 'saving on fees' or 'convenience', think of Old Wu’s reddened eyes and trembling voice— in the crypto world, making money is a skill, but keeping it safe is the real win.
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