You may not have heard much about the right-wing conspiracy theory in the last few months, but it's still alive and well.
The believers are proving to be easy marks for the promoter.
According to a new report by the tech-based fact-checking firm Logically, two conspiratorial community members are using their cachet to prey on their followers and bilk them out of millions of dollars.
Using their large followings on Telegram, Whiplash 347 and Patriot Qakes have promoted a lot of fraudulent token to their followers. The two, along with other leaders in the chats, often use conspiracy theories to lure their fans into investing in their schemes.
The two use Telegram to run their scam. Whiplash 347 has built a Telegram channel with 277,000 subscribers because of his promotion of conspiracy theories. Emily Tang, who goes by the name of Patriot Qakes, runs a Telegram channel with 30,000 subscribers.
According to a former admin of the QSI chats, Whiplash 347, Emily, and QSI are scam artists This appeared to be a very large and well organized Ponzi scheme.
The detailed report by Logically shows how the scam played out on the ledger. Anyone can create their own token in 5 easy steps with the help of the Stellar network. They would create a scam token and then transfer their holdings out for real money or more after they told their followers to invest. This is a type of pull in the space. The "Indus.Gold" domain name was used to create the token, which was backed by a New York-based bank. Many of the scam cryptocurrencies followed the same naming pattern in order to make them sound like they are connected to a real company. The companies they were named after did not have any connection to these token.
The Sungold token was "linked" to a Russian company of the same name. This claim was not supported by any information. According to Logically, the scam netted about $2 million.
There are a number of false beliefs among the followers of the right-wing conspiracy theory. The movement was built on the lie that former President Donald Trump was trying to take down a child sex trafficking ring run by members of the Democratic Party.
They appear to use these conspiracy theories in their money making schemes. Investment advice about which cryptocurrencies to buy into is released by the channels. They claimed that they knew which assets were going to succeed because of secret military intelligence. The Telegram chat leaders claim that aliens will facilitate a "quantum" wealth transfer to the followers, according to a report.
JFK Jr., President John F. Kennedy's son, is a supporter of Trump according to many people. Whiplash 347 was a major critic of conspiracy theories. The Telegram channel was a major influence on some of the more cult-like phenomena, such as an assembly at Dealey Plaza in Texas last year in which people believed that the former president was alive.
Tang used other common Qanon beliefs to sell her followers on the scamcryptocurrencies.
According to Logically, their research led to a Telegram support group made up of people who were tricked by the twoQAnoninfluencers and were trying to warn other people. Between 52 people who responded to the chat, a total of $223,000 was estimated to have been lost in thecryptocurrencies scam.
The family of a man who lost more than 98 percent of his $100,000 investment into the scam was spoken to by Logically. The family says the man lost his house and construction business due to his debts.
It is thought that the original Whiplash 347 isn't the one running the Telegram channel of the same name anymore.
The group mostly contains forwarded messages from other groups, and contains far fewer Q-related posts than it did at the account's inception.
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