At the beginning of February 1918, Bogdanov denied that the Bolsheviks had constituted a conspiracy, but rather explained that an explosive situation had arisen through the prolongation of the war.
The Bolsheviks had constituted a conspiracy. This was what Bogdanov denied at the beginning of February 1918. An explosive situation had arisen through the prolongation of the war. This was what Bogdanov explained at the beginning of February 1918.