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MAGACOIN Launches For Trump Fans, Has Private Info Exposed After Just A Week
By Alexa Heah, 23 Jul 2021
Image via MAGACOIN
Just last week, a new digital currency named MAGACOIN launched, created by “America First Conservatives.”
Approximately 75 million MAGACOINs were first issued to symbolically represent the number of US citizens who voted for Donald Trump in the 2020 election.
The cryptocurrency makers have said 10 million MAGACOINs have already been donated to the ‘MAGACOIN Victory Fund’, which will be used to fund various MAGA candidates in the next round of elections. Though, of course, how much they’ll be able to cash out is dependent on how high the price of the coin soars.
“The greater the value of each MAGACOIN, the more resources the MAGACOIN Victory Fund will have to support and elect MAGA candidates nationwide,” the company said.
However, as per Input, just a week after its launch, MAGACOIN has faced a setback with details of its initial 1,000 or so backers breached.
According to The Guardian, “a website associated with MAGACOIN exposed the email addresses, passwords, cryptocurrency wallet addresses, and IP addresses of users who have bought in.”
In the exposé, the data revealed most of the cryptocurrency has gone to MAGACOIN’s creator, who is said to be “a pro-Trump consultant who owns an LLC associated with the cryptocurrency, and a Super Pac associated with the same consultant.”
Aside from its creator, MAGACOIN has also started an “Ambassador Program” of sorts, with chosen ambassadors being entitled to 1,000 free MAGACOINs from the get-go. The Guardian uncovered that current ambassadors include a talk radio host in Denver, and a person associated with a College Republican group called the Youth Federalist Initiative, so make of that what you will.
With the cryptocurrency marketplace gaining steam, it isn’t surprising that even MAGA campaigners have created a coin for themselves. Though, perhaps, it would be best to invest in better security measures before a wider launch.
[via Input, cover image via MAGACOIN]
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