Magacoin: Over 1,000 People Sign Up to Pro-Trump Cryptocurrency, Report Says
10:35 GMT 22.07.2021 (Updated: 10:37 GMT 22.07.2021)
© AP Photo / Brynn AndersonA man dressed in American flag clothes holds "Make America Great Again" hats.
© AP Photo / Brynn Anderson
According to its website, the digital currency was created by America First Conservatives out of frustration with "losing the election" and a desire to fight back by supporting MAGA candidates in 2022 and beyond.
Over 1,000 people have signed up to a pro-Trump cryptocurrency, The Guardian has reported, citing information provided by a self-described hacktivist. According to the outlet, conservative media personalities and Republican figures are among those who signed up to magacoin, named after Donald Trump's popular campaign slogan Make America Great Again (MAGA).
The website says it gives away 100 coins to every registrant in order to build a robust MAGACOIN ecosystem that will work together to gain access to crypto exchanges and support the MAGA movement.
However, the data obtained by the hacktivist shows that the lion's share (10 million) of the digital currency has been allocated to Reilly O'Neal, a North-Carolina-based Trump political operative, who is the head of the magacoin project.
Another 10 million magacoins were donated to a conservative Super PAC (political action committee) MAGACOIN Victory Fund, whose aim is to "support MAGA candidates across the country who will fight for individual rights, religious liberty, protecting the unborn, the 2nd amendment, freedom of speech, and the entire America First Agenda".
According to The Guardian, users' emails, passwords, IP addresses, as well as wallet addresses were exposed due to poor security on the magacoin website.