Not only joke but that was a scam one, this service is a very similar as when there was a scam project that offers daily interest. basically this scammer is trying to lure investors to put their money on his wallet and that's it., they can do anything with it just like when CEO of bankera shitscam ico was running away with hundreds of bitcoin.
it is not ponzi. The site says that the maximum risk is 10%.
The smart contract code is open. If you can prove your words about fraud, I will send you 1 Ether.