Capitalwatch再炮轰：AppLovin只是洗钱产业链冰山一角，还有十几家公司，“核弹级”材料已交给监管

Core Viewpoint - Capitalwatch has accused AppLovin's core shareholder, Hao Tang, of colluding with a leader of a multinational crime organization to launder illegal funds through the Cambodian super app WOWNOW, converting them into advertising fees for AppLovin [1][11]. Group 1: Allegations and Investigations - Capitalwatch's investigation initially targeted the flow of illegal funds from the Chinese P2P platform "TuanDai Wang," revealing a vast money laundering network involving over a dozen U.S. listed companies, including AppLovin [4][5]. - The report describes a complex scheme where illegal funds are transferred out of China through underground networks, split into smaller amounts, and eventually injected into multiple U.S. companies [4][5]. Group 2: Evidence and Regulatory Actions - Capitalwatch claims to possess "nuclear-level" evidence that has been submitted to U.S. regulatory agencies, including the SEC and CFIUS, although they have chosen not to disclose this evidence publicly for legal and safety reasons [6][9]. - The organization has indicated that the evidence chain has been formally submitted to regulators, and they have provided a screenshot showing access from U.S. government IP addresses [6][9]. Group 3: Market Reactions and Company Response - Despite AppLovin's stock price rising after the short report was released, Capitalwatch remains unfazed, asserting that short-term price fluctuations do not undermine the validity of their evidence [10]. - The report emphasizes that even if AppLovin's management is not complicit, the company could still face significant legal and delisting risks if the source of funds is confirmed to be linked to money laundering [10]. Group 4: The "Ad-Tech Laundromat" Model - The report outlines a model termed the "Ad-Tech Laundromat," where illegal funds are converted into advertising fees through WOWNOW, ultimately becoming legitimate assets for AppLovin through revenue sharing and stock appreciation [13].