The vitality of the fraudsters in the cryptocurrency world comes from trust and consensus, greed, blindness, fueled by lax, irresponsible regulatory authorities, multiplied by the mesmerized commission rate. The more people who love crypto, the more fraudsters will appear.
Still the only person to blame for it the person who is taking the risk. Its their money, its their work and its their fault they played with their money. In this sense crypto would seem like gambling or like a speculative market trading. The SEC tried to control some ICOs but then the last decision vests on the shoulder of the investor.
Just some words of advice through my experience:
1. Dont fall for huge returns promises.
2. Check the team members and the advisors if they exist or not. Try to talk to the advisors if they are really involved or not.
3. Read the whitepaper. If you could analyse the market condition of whether the project seems feasible or not that would be even better but most of us cant do that.