高调做空报告来了！Capitalwatch指控APPLovin“广告即洗钱”，协助“东南亚杀猪盘”

Core Viewpoint - Capitalwatch has released a short-selling report accusing AppLovin Corporation of systemic compliance risks and significant financial crimes related to its core shareholder structure [2][5]. Group 1: Allegations of Illegal Funding and Money Laundering - The report claims that AppLovin's major shareholder, Hao Tang, and his capital network are suspected of injecting illegal funds from China and Southeast Asia into the U.S. capital markets [3]. - AppLovin is accused of significant fraudulent concealment in SEC filings and of ignoring anti-money laundering (AML) laws, thereby facilitating the legitimization of assets for the Prince Group, classified as a transnational criminal organization by the U.S. Department of Justice (DOJ) [5]. - The report details a closed loop where illegal funds are converted into advertising fees through a Cambodian super app, WOWNOW, flowing into AppLovin's platform and eventually becoming legitimate U.S. dollar assets through revenue sharing and stock price appreciation [6]. Group 2: Technical Complicity - AppLovin's technology algorithms, Array and AXON, are described as "digital weapons" that assist criminal groups in precisely targeting victims and distributing malware [7]. - The report indicates that AppLovin's SDK includes commands that effectively strip users of their choice, turning their devices into tools for advertisers [27]. Group 3: Connections to Southeast Asian Crime Networks - The Prince Group, led by Chen Zhi, is identified as providing ongoing cash flow and laundering infrastructure for Hao Tang, with the group being designated as a transnational criminal organization by U.S. authorities [17][18]. - The report highlights that the DOJ has seized approximately $15 billion in cryptocurrency linked to Chen Zhi, underscoring the Prince Group's significant financial capabilities [18]. Group 4: Financial Interconnections - The report reveals a deep connection between Hao Tang and Chen Zhi in the Hong Kong capital market, particularly during a critical period for Tang when he sought offshore funding avenues [20][21]. - AppLovin's relationship with the Prince Group extends beyond capital investment, as its technology products are implicated in facilitating illegal activities [23]. Group 5: Money Laundering Mechanism - The report outlines a money laundering scheme where the Prince Group uses AppLovin as a central hub for laundering funds through digital advertising transactions, creating a "money laundering machine" [28]. - The process involves the Prince Group opening advertising accounts on AppLovin, paying hundreds of millions for ad traffic, and then AppLovin recognizing this income as legitimate revenue [30][31]. Group 6: Compliance Crisis and Regulatory Risks - AppLovin is described as being on a compliance volcano, with the report warning that if the funds of major shareholders are proven to be criminal proceeds, the company faces delisting risks [34][35]. - The report calls for immediate action from regulatory bodies, including freezing shares held by Hao Tang and Ling Tang, and conducting a forensic audit of AppLovin's advertising revenue sources [38].