Too much greed is an unhealthy mindset and most of them ( I think the majority) had fallen to losing ends.
- too much greed
- knowledge
- experience
These are the most probable cause that newbies or some people become a victim of scam projects. And this was the reason also why people had changed and growing as they learn a lot from their bad or worse experiences that open their eyes and see the reality of the market.
Greed is always like a trap to people that wouldn't be easy to escape it, most expecially newbies. Some people believe cryptocurrency is what money can be made from it uncontrollably. Most newbies thinks the amount of money used in investing in cryptocurrency will be made double in short time .
Greed and lack of knowledge is one of the major factors that is common why crytocurrency loss money. Investing to make money in a short time and having no knowledge if the project is a scam project or not .