The aim the following the paper is to provide a theoretical backing to the semiotic logic of signification of conspiracy theories. The logic of mythological thinking operates within conspiracy theories, with their organizing principle of homomorphic resemblance. Conspiracy theories do not interpret events as a coincidence, but rather as being motivated by one originary cause - evil. The non-mythological type of signification also functions in the logic of conspiracy theories. This leads to the perception of the conspirers as a strictly organized group, divided into complex sub-systems. The main goal of this article is to explain the interaction between these two contradictory signification-tendencies, for that the concept of code-text is used. I will illustrate my arguments with examples derived from the commentary posted at the Para-Web forum under the topic of "The death of the Polish president and the rest of the elite."