Barely a week after its launch, the Make America Great Again (MAGA) cryptocurrency was hacked and the personal information of more than 1,000 users was exposed. The hacker exploited flaws in website security and revealed email addresses, passwords, and crypto wallet addresses for the new users.
As you might recall, Make America Great Again was the campaign slogan of former US president Donald Trump. He lost to president Joe Biden in the 2020 elections but claims he won with about 75 million voters. The MAGA movement is still going strong.
Magacoin is a “digital currency for the MAGA community” is associated with staunch Donald Trump supporters and was created to help MAGA candidates fight back ”in 2022 and beyond.” It was created by “America First Conservatives,” with some prominent pro-Trump names revealed.
Accounts of Top Trump Supporters Revealed
Most of the new users who registered with the MAGA crypto were revealed to have joined for the initial offer of 100 free magacoins for early signups. However, some influential people such as bloggers, media personalities, radio hosts, and political groups were offered 1,000 of the free coins to promote the currency.
One of these prominent people is John Rush, a rightwing radio broadcaster. His account was shown to have 1,500 magacoins at the time.
Another important personality who joined the ICO early was Reily O’Neal, a top Trump political supporter. Data suggests that he’s currently controlling magacoin and its associated websites after its creator, Marc Zelinka, handed over control to him.
Another account was linked with the Youth Federalist Initiative, which is a Republican party effort based in Colorado for youth engagement. A large percentage of the 75 million magacoins remains allocated to its creator.
This hack that allowed personal information belonging to over 1,000 people was attributed to poor security configuration on the magacoin website. The people behind the attack are self-described “hacktivists,” and it isn’t the first time that websites related to campaigns are hacked.
Trump Hasn’t Expressed Support for Magacoin
Despite its MAGA affiliations, former US president Donald Trump doesn’t support the magacoin cryptocurrency. In fact, he’s on record saying that cryptos are not money and have no substantial backing.
The same thing applies to the TrumpCoin, another crypto that was created with 6 million coins in circulation to help Trump and his supporters.
So far, magacoin is not a traded crypto asset and is not listed on any major cryptocurrency platforms or exchanges. Instead, it is meant to be given away to patriots to build the MAGA ecosystem. There are 75 million magacoins, one for each of the votes Trump received in the 2020 elections.
Does Magacoin Have a Chance of Taking Off?
Magacoin was designed to help create an ecosystem where pro-Trump supporters and businesses can thrive without enriching globalists. It’s creators hope that as the value of magacoin increases and the coin is traded on exchanges, it will help support MAGA candidates.
So far, the cryptocurrency has started off on the wrong foot. Unless serious effort is invested into the design and security of the crypto, it might just end up as one of the many other blockchain projects that failed to take off.