Uhm, I think it's the second theory, they are the same.
The Wuhan lab was experimenting with genetic function enhancement of bat viruses. The purpose was to analyze how dangerous bat viruses can become to humans. And the theory is, one of these genetically altered viruses leaked from the lab.
As usual, the basics of the right wingers were not very accurate with what they say, and added an evil-China spin to it, but it is just that theory.
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And as usual, it got turned into a black and white discussion of two extreme viewpoints, making it impossible to come to a balanced truth. Point out the wrong details of either side, and they will shout you down, calling you a nutter of the other side.