QAnon, Indus.Gold and Rug Pull

Q

QAnon is a conspiracy theory that says about the presence of a network of cannibalistic pedophiles working in consonance to bring down the erstwhile US President. The conspiracy theory links late president John F Kennedy, Donald Trump, Elon Musk and, if not weird enough already, Aliens! 

QAnon could have been like any other conspiracy theory. However, Mashable reported that some people involved were trying to fraudulently benefit upon the believers of this theory. 

Apparently two users namely Whiplash347 and PatriotQakes operated separate groups on Telegram in support of this theory and had a huge number of subscribers. Subscribers were encouraged to invest in Cryptocurrencies. Scam tokens were created and the assets were transferred in exchange for real money. The tokens were created under the domain name Indus.gold.

However, all these tokens were part of what is termed in the Crypto sector as a ‘Rug Pull’. It is a scam in which an entity promotes people to invest in a Cryptocurrency, hike the price, gain as much as possible and then abandon the currency. The currency’s price drops to users leaving the buyer with nothing.

The Wizard
Author: The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.

About the author

The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.

Add Comment

Follow Us

DomainMagazine is a leading technology media property, dedicated to obsessively profiling domain name industry and breaking domain news.

The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.