Two QAnon-linked conspiracy theorists have reportedly caused millions of dollars in losses to their followers by running a cryptocurrency-pump-and-garbage system.
The couple is said to have persuaded thousands of their followers to invest in a cryptocurrency collection, with a misleading mix of conspiracy theories and genuine material, as well as claims about institutions that support the symbols to create and raise the portfolio’s prices.
The allegations are part of a study by Logically, a team of data scientists and developers. It reported on the two influencers who run the Telegram channels “WhipLash347” and “Quantum Stellar Initiative” (QSI) which were coordinated to present a list of Stellar (XLM) altcoins that have been flagged as fraudulent by the Stellar network.
WhipLash347 is a Telegram group with 277,000 followers and QSI has 35,000. They reportedly told their followers that cryptocurrencies would succeed based on their insider knowledge and claimed that they had access to secret military information.
The publication said the two mixed conspiracies and misinformation to target those who distrust private financial and media institutions to give credence to the cryptocurrencies they introduced. The loss is estimated at millions and it is logical to claim that one man committed suicide after losing $ 100,000 in the system.
User known as PatriotQakes, leads the QSI main channel, which has many regional connections. It is believed that the ownership of the WhipLash347 account has recently changed hands due to a change in behavior.
Rocky Morningside, the former director of the QSI group, said Logically that he believed that “without a doubt WhipLash347, PatriotQakes and QSI are cheating artists”, who were promoting “pump and dumps”.
Cointelegraph requested a response to the allegations from PatriotQakes, an account that appears to belong to the person behind Whiplash347 and the manager of the regional QSI team regarding the allegations, but did not receive a response upon publication.
Neither group has publicly acknowledged or responded to the allegations.
A former investor in one of the systems using the name “Cutter” now runs a Twitter account that aims to expose WhipLash347. He told Cointelegraph he was a member of a Telegram group with 3,000 other dissatisfied investors and said of the person behind WhipLash347:
“He has created a huge list of cryptocurrencies with now dead domains, as well as forged white papers that claim to be linked to real companies. We’ve talked to so many of the real creators of the coins that he imitates assets that are imitations that constantly have to tell people that WhipLash is full of shit. “
Cutter says WhipLash builds trust with its followers by sharing similar political views, maintaining the plan by claiming that “upcoming events” will cause the value of the assets to skyrocket.
According to Cutter, WhipLash responded to the claims by saying that all information was covered by confidentiality agreements and that anyone connected to the property was not allowed to speak until the “event”.
“There is always a timeline, but when the dates pass and nothing happens, he creates new timelines. It will never end. “
He also said he interacted with films such as Elon Musk and said the crypto-friendly billionaire supports the cryptocurrencies that WhipLash is promoting.
Cutter said anyone who raises the question is expelled from the group.
“Anyone who doubts his story is removed from his Telegram group and he continues to flush and repeat among his followers. When people quit, new people are added. It needs to stop. “
Connected: Social media blamed a $ 1 billion loss on cryptocurrency in 2021
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