Suspending one's mind into an altered state while being aware of the grave consequences that would result if getting caught –effectively defenseless while high– makes me think hypervigilance is almost a rational response to that situation.
I've seen heavy users succumb to conspiracies but such cases were ultimately a symptom of schizophrenia. There has been research into use of drugs and mental illness.
Alcohol intoxication on the other hand, doesn't share the taboo, but paranoid ideations seem plenty. Intoxicated people misread signals, pick up malicious intent wherever and the paranoia that results blows back on the people most important to the person.
These substances can make you more susceptible.
David Icke, was he writing or speaking about conspiracy before he encountered psychedelics or after? What about Terence McKenna and his intriguing Timewave Zero nonsense?
Edit: satirical joke