A UK man created Idiot Coin to study the 'hype coin' craze. It took a few minutes and $300 to mint 21 million coins that hundreds of people were clamoring to buy

A New York Times reporter created Idiot Coin to illustrate the craze around so-called hype coins.

Millions of people wanting to make money have been drawn in by hype coins that hold little intrinsic value or are outright scams.

Reporter David Segal marketed Idiot Coin to look like an obvious fiasco: “Def NOT going to the moon!”