Yup, magnetic drag is a definitely a thing, see https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/2020SW002472 https://agupubs.onlinelibrary.wiley.com/do

Yup, magnetic drag is a definitely a thing, see https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/2020SW002472 https://agupubs.onlinelibrary.wiley.com/doi/full/10.1029/202... . To have a real effect the magnet would need to be ginormous, specifically effectiveness would be proportional to a ratio of distance between magnet poles and the target object. The distance between poles is important because if both poles are equidistant to an object the net effect would be 0. So with that constraint in mind I doubt anything we can do at our current Kardashev scale can top Earths magnetic field. (Note the above is for a permanent magnet, it is possible that electromagnet would fare better. However given that magnetic force strength decays proportionally to distance squared, a magnet powerful enough to be effective would mess up real satellites too.