Derived from the words 'wanker' and 'anchor', the Portmanteau word 'wanchor' is used primarily as an insult on the Lycos UK chat site to indicate that a moderator is either: a) underperforming in their task, b) displays arrogance and appalling manners online, c) is known to offer sexually themed web cam shows to other users, d) displays mind-numbing incompetence that infuriates users, e) lacks people skills.
"That man is a complete wanchor, all he cares about is his PC, cracking one off on cam and loving himself"
by Observer_UK May 31, 2007