MAGAcoin is growing, claiming it already has made 75 million worth of coins for all the users who have purchased its cryptocurrency. It claims to have more than 1,000 signups on its debut launch earlier and has been facing high time popularity among the public.
However, several sources say that these users are subject to a data breach.
MAGA has been a hot topic for the past few months now, and it has resurfaced its trend after former President Donald J. Trump was banned from social media websites. This happened after Trump stepped down from office, and he is known for his support of the MAGA campaign.
Blockchains and cryptocurrency can be created from scratch and be named to whatever the creator wants it to be called, and in this case, it names it after a known "far-right" movement. According to MAGAcoin's website, the cryptocurrency was made for the "MAGA community," but the sign-up is available for anyone to access.
This is one of the latest digital currencies that was established and according to Market Insider, it was reported to have already garnered more than 1,000 sign-ups when it was launched.
The description on MAGAcoin's website is that the cryptocurrency was made "out of frustration with Losing the Election," and would soon be used to back MAGA candidates in the future. MAGAcoin offers a 100 coin freebie to anyone that registers today, but there were no further details if users can get this if they sign up in the future.
MAGAcoin and Freedom Phone
The country has been met with a lot of "far-right" movements in the past months, and this includes that of the Freedom Phone which has been made for "free speech." These far-right movements have been facing massive popularity among the public but are mixed in terms of support.
Currently, MAGAcoin boasts of having already made almost 75 million coins on its website, bringing a lot of it on circulation for the public to trade, buy, or sell. The coin is also said to be available for mining, the alternative process of getting raw cryptocurrency.
However, MAGAcoin is not yet listed among popular and trusted platforms including that of CoinMarketCap, Binance, and others.
MAGAcoin Risks Data Breach
According to RawStory's report, despite the popularity and massive sign-ups of MAGAcoin, its users risk something and it is a data breach on their end. It was discovered that the MAGAcoin website reveals user information including login credentials among others.
This is something that should be a red flag for users, especially as they can be accessed or have their money stolen from them by threat actors. MAGAcoin is a fairly new blockchain in the market, and users should take caution in proceeding to buy it.
This article is owned by Tech Times
Written by Isaiah Richard