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That was bytecoin, not Monero. Monero is a code fork of Bytecoin. Bytecoin is considered a scam. Monero was a fair launch with no backdoors.

• shpx 8y ago
  > I woke up on May 28th, 2014 [one month after Monero launched], on vacation with my family in the middle of the desert, to find a copy of my private source code plastered across the bitcointalk message board. Announced as a "new optimized version" of the Monero currency miner, it was enthusiastically adopted by cryptocurrency miners across the world. And in the process of doing so, my daily profit from the Monero Mining Project dropped by over five thousand dollars per day. ... > [Monero] was a fork of Bytecoin designed to not have the 80% premine. But its initial developer either didn't know, didn't care, or wanted to profit from the de-optimized hashing. That initial developer was pretty quickly given the boot by the community, and in came an unrelated group of developers who took it over---who were, as far as I can tell, completely unaware of the deoptimization. So things sat there for a few weeks in the same state as Bytecoin. ... > This was a brilliantly designed proof-of-work function targeting the strengths of modern CPUs -- native AES encryption and fast 64 bit multipliers -- tuned to use a scratchpad exactly the size of the per-core L3 cache on Intel CPUs (about 2MB) that someone then wrapped in such a thick blanket of crap it was nearly unrecognizable until you started jumping in, tearing it apart, and putting it back together again. https://da-data.blogspot.com/2014/08/minting-money-with-monero-and-cpu.html https://da-data.blogspot.com/2014/08/minting-money-with-mone...