MAGACOIN MAGA/USD, a pro-Trump cryptocurrency created by the America First Conservatives coalition out of frustration with losing the election, has attracted over 1000 supporters since its launch.
What Happened: According to a report from The Guardian, a data breach on the project’s website has revealed the identity of those supporters, which reportedly included conservative media personalities and Republican figures.
The breach also revealed user data like email addresses, passwords, IP addresses, and even cryptocurrency wallet addresses associated with the personalities involved.
The data itself was obtained and sent to The Guardian by an unnamed self-proclaimed hacktivist, who also unveiled that the majority of MAGA tokens has been allocated to the creator of the cryptocurrency himself.
Why It Matters: MAGACOIN, which gets its name from former President Trump’s “Make America Great Again” slogan, was created by used car salesman Mark Zelinka, who holds more than 2 million MAGACOIN tokens.
Zelinka reportedly relinquished control of the project to North Carolina-based Trumpist political operative Reilly O’Neal.
O’Neal-controlled companies and political entities are believed to have registered a Super Pac called Magacoin Victory Fund with the Federal Election Commission last month.
“10 Million MAGACOINS have been donated to the MAGACOIN Victory Fund,” said the project on its website.
“As MAGACOIN is accepted by crypto exchanges and the value of the SuperPAC's coin holdings increase, these coins will be traded for U.S. Currency and independent expenditures will be made to support MAGA candidates.”
What Else: At the time of writing, Trump himself appears to have no involvement with the project.
The former US President has previously gone on record to share his negative views on cryptocurrency in general, calling Bitcoin BTC/USD a scam and urging regulators to act upon it.
Photo: Mark Taylor via Wikiquote
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