It will always be a scammer’s playground as the crypto community hasn’t yet regulated. So management can easily go away with investors’ money if they wanted to. What we can do about this to mitigate the risk of getting scammed is to know the project deeply before investing. If you plan on investing for a long term, make sure the team is solid and transparent on their identity.
blockchains can't be regulated so such scam projects will appear regularly. many people just want to receive easy money and such projects is the result of demand.
Because of greed, a lot of people have been scammed because they believe crypto can make them rich overnight. Where in fact, crypto is risky particularly if you are investing into projects that seem legit and even offering high returns, only to find out in the end that you are scammed. With this, altcoin market has always been the scammer’s playground since most of the new projects fall into scams. And for newly investors who lack knowledge because they are more concern on the profits they might gain, they are mostly the target of scammers.