Bitrace says Fulilai Guarantee began removing money-laundering merchants after OFAC action
Blockchain analytics firm Bitrace said Fulilai Guarantee, a transaction guarantee platform also known as 福利来担保, began removing all money-laundering-related public-group merchants last night. According to Bitrace, the cleanup covers illegal entities tied to "card-to-USDT" and "cash car." The firm also said the "Fulilai Wallet" operated by the platform is seeing rapid capital outflows. Since the U.S. Treasury Department’s Office of Foreign Assets Control, or OFAC, formally announced sanctions on Xinbi Guarantee, the wallet has recorded 9.3 million USDT in outflows. Bitrace had previously said that after sanctions hit Xinbi Guarantee, a secretly deployed sub-guarantee platform linked to it showed unusual outflows, while a large number of guarantee merchants were quickly leaving the related market.
