Back in 2017, a joke cryptocurrency called Useless Ethereum Token (UET) was launched. The creator was brutally honest, stating in the project's whitepaper:

“You’re going to give some random person on the internet money, and they’re going to take it and go buy stuff with it. Probably electronics, to be honest.”

Despite admitting it was a complete scam, people still invested thousands of dollars in it! It was one of the first times the crypto community proved that hype could override logic.