Yesterday, I was watching YT videos of people losing their life savings on Bitconnect and I have to tell you it was hard to watch I felt very bad for them....these Ponzis should be immediately banned when they are launched or barred from taking innocent people's money.
Ponzi schemes are already illegal in many jurisdictions. Unfortunately it's impossible to protect people from their own greed and stupidity. Crypto scams are the modern day equivalent of the Nigerian prince. And people still fall for that too.