The smart contract itself may not be punishable, so nothing is stopping the way that makes people create such type of project. But either way, I doubt we want the part of cryptocurrencies governed by the law. I mean with such a "decentralized" nature, I believe it shouldn't be achieved. After all, regulations will come, not directly into the cryptocurrencies space but of how the people interact with it.

I believe what is worse is that it seems absurd that there are still some people that are getting deceived by it day by day. The reason such kinds of scams keep popping out may indicate that there are still enough people who are being deceived that make the scammer isn't stopping yet. Yet there keep innovating to keep making a more deceitful scam technique.