Last week saw the launch of MAGACOIN, an altcoin cryptocurrency for exactly the kind of people its name implies. Created by “America First Conservatives” venting their frustrations with “Losing the Election” (all formatting and capitalizations theirs), approximately 75 million MAGACOINS were created to symbolically represent the estimated number of Trump voters who cast ballots in the 2020 election.
According to MAGACOIN’s official website, 10 million of those coins have already been donated to something called the MAGACOIN Victory Fund, allegedly a SuperPAC aiming to finance various Trumpist candidates in upcoming elections via cashing out the crypto for U.S. currency. “The greater the value of each MAGACOIN, the more resources the MAGACOIN Victory Fund will have to support and elect MAGA candidates nationwide,” reads the altcoin’s description.
Barely seven days have passed since the release, and already pretty much every identity of the initial 1000 or so backers has been uncovered thanks to an anonymous hacktivist and The Guardian, which published an exposé earlier today detailing the embarrassingly lax security features. “[A] website associated with magacoin [sic] exposed the email addresses, passwords, cryptocurrency wallet addresses and IP addresses of users who have bought in,” reads the piece. “The data also reveals that the lion’s share of the cryptocurrency so far produced has been allocated to the self-described creator of magacoin,” the report adds, “a pro-Trump consultant who owns an LLC associated with the cryptocurrency, and a Super Pac associated with the same consultant.” MAGACOIN’s official Twitter page only has 33 followers as of writing.
Backed by a number of conservative ‘stars’ — Okay, so maybe “stars” is a bit much. But it seems as though the MAGACOIN minters are offering an “Ambassador Program” for “approved radio hosts, media personalities, bloggers and grassroots MAGA groups” who agree to shill the altcoin to their respective audiences. Ambassadors receive 1000 free MAGACOINS upon signing up, as opposed to the standard 100 everyone else gets at the outset. The Guardian notes that ambassadors currently include a conservative talk radio host in Denver and someone associated with a College Republican group called the Youth Federalist Initiative, which doesn’t sound creepy in the slightest.
While founded by a different, unimportant MAGA chud, the project most likely is now overseen by a North Carolina-based political operative named Reilly O’Neal, whose lowlights include working on the campaign of the repeatedly accused pedophile, Roy Moore. A quick perusal of his sporadically updated Twitter shows he tweeted a photo of an inverted American flag on January 20, the day of President Biden’s inauguration.