Absolutely they do, I've had several people tell me they no longer invest in cryptocurrency due to a bad experience, which usually revolved around them being scammed in the most obvious way—such as being scammed by a fake admin or handing over their private keys to somebody else.

I think it's always going to be one of the main barriers for cryptocurrency adoption, since the tabloids and newspapers love posting articles about how an old woman was scammed out of her life savings investing in Bitcoin or something similar.

Nothing we can do about it really.