There are lots of fraudulent acts in the crypto world, which as a result is tarnishing the existence of cryptocurrency.
Yes, there are certainly many fraudulent activities and outright scams in crypto. It's mostly an unregulated space so a perfect space for fraudsters and criminals.
What measures can actually be taken to mitigate these frauds.
There are some projects out there already taking action against crypto frauds and scams like the McAfee Alliance. They investigate reports and if found to be true, they can use their expertise to hunt down those responsible and bring them to justice.
I think if we had more projects and team like this it will be a good deterrent for would be fraudsters and scammers.