TIL PonziCoin was a cryptocurrency project that openly described itself as a Ponzi scheme

https://coinbureau.com/analysis/ponzicoin-crypto-crazy/

https://www.smartcompany.com.au/startupsmart/five-times-cryptocurrency-investments-went-terribly-wrong/

PonziCoin was a cryptocurrency project that openly described itself as a Ponzi scheme. Created by San Francisco developer Rishab Hegde, it was launched as an ERC-20 token with the tagline of being the "world’s first legitimate Ponzi scheme". Despite its transparent nature as a scam, over 900 transactions were made, with early investors profiting at the expense of later ones. The project's website and whitepaper did not hide its fraudulent nature, linking to a U.S. Securities and Exchange Commission warning about Ponzi schemes.

Eventually, trading operations ceased as the developer acknowledged the project's absurdity.

Perplexity