Cash in, cash out, newbies really shouldn't touch this!

Recently, I found in chats that many friends are interested in cash in, cash out transactions. To be honest, this is a trap, and today I’ll break down how many legal risks are involved.

First, a simple explanation—"U" usually refers to USDT, a type of virtual currency. Cash in, cash out actually means buying and selling USDT directly with real money in an over-the-counter (OTC) transaction. This kind of transaction is not protected by law in our country and carries enormous risks.

What are the types of risks?

**First, pure scam.** You might encounter a scammer who claims to do cash transactions, but the coins never reach your wallet, and your money is gone. This is quite common; once you fall into this trap, you could lose everything.

**Second, issues with dirty money and illicit coins.** Cash transactions are the easiest to get into trouble with. The money you receive could be illegal, and the coins you sell might have an unclear source. Getting involved with this can lead to all sorts of trouble—your assets could be frozen, you could be questioned, or even face criminal charges.

**Third, if something goes wrong, your defense options are almost zero.** Why? Because you knowingly or should have known that the transaction itself was problematic, and the law is very unsympathetic in such cases. Trying to argue your innocence? It’s basically impossible.

Is there a way to reduce the risks? Theoretically, yes—signing contracts, facial recognition, recording the entire process on video, verifying the other party’s bank statements… but these steps sound simple, and actually implementing them is extremely difficult. Especially for beginners, it’s almost impossible.

For example, you borrow 200,000 yuan from a bank, and this money is clean. You use this 200,000 to buy some coins, and later want to sell them. But the problem is, you have no way to verify the source of the cash the other party pays you. Even checking withdrawal records is a complex process beyond imagination.

So, to be honest—if you lack judgment about transaction risks and are a newbie, just don’t get involved in this muddy water. The potential profits seem tempting, but once you fall in, the consequences can be overwhelming. At best, your assets could be frozen; at worst, face legal sanctions. Why take the risk? Use legitimate exchanges instead. The profit might be smaller, but at least you can sleep peacefully.