The original post: /r/cryptocurrency by /u/ethereal3xp on 2024-12-10 01:00:18.
https://coinbureau.com/analysis/ponzicoin-crypto-crazy/
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
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