Recently, many people have come to me to talk about their accounts being frozen or being summoned for questioning, and they are extremely panicked. Instead of waiting until that moment to regret it, it's better to clarify a few core issues now.

First, is virtual currency trading legally protected? This is the first pitfall. Saying it's completely illegal is too absolute, and ignoring it entirely is also wrong. To be precise, the government hasn't explicitly declared trading illegal, but emphasizes that risks are to be borne by oneself, and the judiciary does not provide protection. Simply put, your transactions are legally ambiguous, and if problems arise, you cannot rely on legal safeguards.

The second issue hits hard: why do police request refunds after virtual currency trading is frozen? Many interpret this as a fine, but that's not the case. The real purpose of freezing is to investigate suspicions and clarify the fund chain. How much to refund and how to do it usually requires communication and negotiation with the affected parties; this is the key point for unfreezing. Stubbornly resisting often only makes things more complicated.

The third point concerns the subsequent impact. If you cooperate proactively with the investigation, generally you won't have a criminal record, nor will it affect other bank cards. But this comes with a condition — your card must not be classified as a first-level involved case card. Once locked, the central bank and the Ministry of Public Security will coordinate control, and all your cards will be "jointly" frozen, which can have much more serious consequences.

Honestly, virtual currency trading operates in a gray area with extremely high risks. Regardless of the amount, you must carefully verify the source of funds, confirm the identity of trading counterparts, and the authenticity of transaction flows. Stranger money and unknown sources should be avoided if possible.

Opportunities in the crypto world are indeed plentiful, but the pitfalls are even more numerous. To achieve stable profits, first mitigate these basic risks before considering other strategies. Protecting your funds is the first lesson for long-term participation.