Capitalwatch's short-selling report on the US-listed marketing company AppLovin is packed with information. They accuse: 1. The Taizi Group of using related shell companies to open accounts on the AppLovin advertising platform for promotional purposes. The funds allegedly came from crypto obtained through pig-butchering scams. 2. Later, Taizi Group approached AppLovin under the guise of purchasing a large number of advertising services to promote gambling apps, which in reality was a form of money laundering. 3. AppLovin recognized these ad revenues as legitimate income and recorded them in the financial reports of the publicly listed company. The funds were then settled with Taizi Group and other controlled overseas accounts in the form of developer revenue shares and ad publishing fees. Even more shocking, to achieve traffic delivery goals and convert more people into gambling users, AppLovin, as an advertising company, allegedly collaborated with smartphone manufacturers and carriers. They used pre-installed software to ensure that when users clicked on an ad, the gambling app would automatically install on their phones. This completes the process where black money from telecom fraud groups is laundered through a US-listed company, achieving the goal of promoting gambling apps and then funneling the money back.