Two conspiracy theorist influencers have caused a lot of investors to lose crypto funds in a pump-and-dump scheme. They presented a portfolio of cryptocurrencies with dubious claims about authenticity and institutional backings. These claims aimed to create enough hype for the cryptos and raise their prices more than they should be.
Given that they have already won the followers’ trust, they could persuade them to invest in the crypto portfolio. But unfortunately, these followers have lost millions by believing the hype around the assets. According to the investigations carried out by Logically, a firm comprising developers and data scientists.
The influencers are in charge of two Telegram channels- WhipLash 347 and Quantum Stellar Initiative (QSI). They used these channels to promote fraudulent Stellar XLM altcoins, which the entire Stellar network has confirmed to be dubious.
WhipLash And QSI operations
The first group WhipLash347 has 277,000 followers, while Quantum Stellar Initiate has 35,000 followers. Logically discovered that the influencers told these thousands of followers that the altcoins would be a huge hit. According to them, they could predict such outcomes because of secret military intelligence.
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Another angle they used was through sharing misinformation and conspiratorial content against media and mainstream institutions. Since the followers…
