No wonder investors say 95% of the many projects launched are scams, this is not the case with crypto as a whole. There are so many memes of coins on the market that are no longer actively traded and various parties that come up with the idea of crypto to recruit investors to invest where they end up being scammed, experiences like this make me think crypto should be monitored by the state. However, it is highly unlikely that cryptocurrencies are controlled by the government. 2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.
At least a part of the blame should be on retarded people who pour their money in to such projects. Back in 2016/17, a number of ICO projects returned 100x or even 1000x returns for those who invested in them. And as a result, there was a lot of hype related to the ICOs. A lot of users were rushing to invest in ICOs, despite the shady credentials. They were hoping that at least 2-3 out of 10 projects would return good profits. That didn't happened and most of those who made their investments lost the capital amount.
That was part of the process, you can't blame them for investing money because they saw the potential and they believe that they could make money. They lose, that's okay because there's a lot of opportunity in crypto, and if they learn from their mistakes, then probably they are already in profit now.
As the market is not yet fully regulated, you can see more scams as it's easy for scammers to play here, but as their style was exposed, I'm sure that will give awareness to investors on what to look for when investing.