Bitrace: Wulai Guarantee Begins Removing Money Laundering Merchants; 9.3M USDT Withdrawn Following OFAC Sanctions

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Bitrace reports that Wulai Guarantee has begun removing money laundering merchants, including "card linking back U" and "cash cars." Following OFAC sanctions on Xinbi Guarantee, Wulai Wallet experienced $9.3 million in USDT outflows. Top altcoins remain under pressure as trading volume shifts amid rapid merchant exits. Bitrace noted abnormal outflows after the sanctions, with many guarantee merchants quickly leaving the market.

Huoxing Finance reports that, according to blockchain data analytics firm Bitrace, another major transaction guarantee platform, "Weilai Guarantee," began clearing all money laundering-related public group merchants last night, including illegal entities commonly known as "card-to-USDT" and "cash vehicles." Bitrace noted that "Weilai Wallet," operated by Weilai Guarantee, is currently experiencing rapid capital outflows. Since the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) officially announced sanctions against Xinbi Guarantee, the wallet has recorded $9.3 million in USDT outflows. Bitrace previously reported that, following the sanctions on Xinbi Guarantee, previously covertly deployed subsidiary guarantee platforms experienced abnormal capital outflows, with a large number of guarantee merchants rapidly exiting the market.

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