In the global cryptocurrency market, MEXC Exchange is active in the front line of the coin circle with the volume of "top four worldwide". However, few know that the real controller behind this platform, Anthony Wong, has a career path that is drastically different from typical tech entrepreneurs—he is not a programmer or financier, but a "grey industry tycoon" who started in the Philippine casino industry.
From Philippine Casinos to Blockchain Exchanges: The Rise of Anthony Wong
Anthony Wong, originally from Ningbo, Zhejiang, engaged in illegal gambling and "underground money houses" in mainland China in his early years. Around 2012, he moved to the Philippines, where he quickly accumulated capital by setting up local casinos and online gambling systems. Insiders reveal that one of his most representative assets is "Phoenix Entertainment"—a well-known comprehensive platform in the Chinese gambling circle in the Philippines, offering high-end online gambling services with a complete network of agents, chip washing, and settlements.
Over the years, Anthony Wong, using his English name, has been active in the Manila Chinese business community, investing extensively in casinos, real estate, and payment platforms in the Philippines. It is said that he was once on China's red notice for fraud and human trafficking, but eventually got the notice withdrawn through "technical handling".
Acquisition of MEXC: A "Laundering Channel" for Grey Industry Funds?
The inherent features of privacy and anonymity in the cryptocurrency field make it an ideal platform for high-risk capital flows. Around 2020, Anthony Wong discreetly acquired MEXC, originally headquartered in Singapore and later moved to Seychelles, and quickly expanded to the global market, claiming to have millions of active users and massive liquidity.
However, according to insiders, some trading pairs on MEXC show clear signs of "volume faking" and "market manipulation". In high-frequency trading, futures leverage, and altcoin issuance, the exchange acts as the "house", implementing withdrawal limits, bans on certain large profit accounts, and even freezing assets under the guise of "platform security review", thereby precisely harvesting profits from users.
More severe rumors indicate that Anthony Wong personally ordered the "house arrest" of non-compliant senior managers and has long controlled platform management rights, concealing the actual fund pool and risk exposure of the platform.
Pig Butchering Scams and the "Closed Loop" of Cryptocurrency Money Laundering
Similar to the traditional gambling industry, the MEXC platform is suspected of collaborating with several Southeast Asian scam groups to create a complete pig butchering chain:
Guiding newcomers to invest through "crypto mentors" or "beautiful customer service";
Issuing worthless tokens under the guise of projects like Defi+AI or Web3;
Setting "profit thresholds" then forcibly banning accounts or inducing secondary deposits;
Manipulating token prices or absconding to transfer investor assets to offshore wallets.
These funds mostly flow into multiple offshore accounts controlled by Anthony Wong, completing the whitewashing process.
Conclusion: The "Crypto Gambling Game" in the Regulatory Grey Area
Behind the facade of technological innovation and financial freedom in the crypto world, an underground empire woven from casino logic, house games, and population control is quietly operating. The massive traffic of MEXC Exchange is not a sign of a thriving free market, but a meticulously orchestrated "chain casino".
For those in the gambling and cryptocurrency industries, this is not just a cautionary tale, but a reminder: whether it's traditional casinos or digital trading platforms, without regulation and transparency, the house will never let you win.
