Is it because cryptocurrencies are not regulated the way it suppose to be?.
I guess that's it. With certain advantages comes also a disadvantage, what makes the advantage more balance is as to it's scaling in tem
rms if balance. So long as the advantage out weighs the disadvantage then, it is allowed to persist.
It's no doubt scammers have taken to exploiting this system to suit their purpose.
Its normal that, where ever there is a good thing, there is also going to be some element to plague the system. Your security always turns to you. It's always a necessity that you should verify platforms before making any transaction as what is done as per sending your Bitcoin to other wallets or platforms can not be undone.