This always happen in the cryptocurrency sector. Whenever a particular coin becomes a success, immediately 10-20 clones will appear in the market. And the noobs and greedy investors will rush to invest in them. Once the promoters are able to make enough profits, they will just vanish, leaving the investors with a few worthless coins that can't be used anywhere. Anyone remember the Trumpcoin from 2016? There was also a Putincoin in 2017. Anyone know what happened to these coins?
PUTinCoin is still alive and got a new team, who took it over from the former developer and is really trying hard to revive it with new projects like fan shop, DeFi Token and NFT collection.