Obviously there will be more and more scams in Crypto, especially because the regulators are giving $500k fines on scammers that profited millions.

We may all find it weird that even though we are in a bear market we still had a pretty high amount of scams happening to customers. One of our expectations from us to the bear market were definitely fewer scams and shitcoins as there would be less “prey“ for those fraudsters to profit off, but that clearly did not happen. There were just as many new scams happening from some influencers making their 100th shitcoin.

What could possibly be the reason for that? Well firstly, after 2021 Crypto has quite largely entered the mainstream, thus we always have quite a lot of people being aware of Crypto and just investing in shitcoins and even believing in them (such as with Safemoon). This obviously motivates those scammers to just do more and more.

Another reason for that is that many scammers just don‘t get caught like even the biggest scammers Do Kwon and SBF were walking around completely fine for a while after their scams and even freely giving multiple interviews.

But even if those people were caught by the SEC for example, they literally had nothing to fear. They would have made millions in profits off their one scam and the SEC will probably put a $500k fine on them, they still walk away with millions in profits though. So obviously they would be motivated to do it multiple times.

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News of scammer Jake Paul getting a measly 400k fine

For Crypto scams to sufficiently decrease we would need for those “regulators“ to finally now focus on some unknown scams like Bitlatzo or whatever, but instead actually go for the real scammers. Maybe that is just too much to ask for…