According to monitoring by blockchain analytics company Bitrace, Potato Guarantee started issuing large-scale refunds to merchants as early as January 8. Between January 1 and January 16, 2026, the total refund amount exceeded 130 million USDT. Bitrace stated that as a key part of the telecom fraud ecosystem, this shutdown indicates a heavy blow to the local illegal industry. Potato Guarantee is a money laundering company that quickly rose to prominence after Huiwang.