Preventing Scams and Frauds, Is It Possible?

Hey everyone, as many of us know, Crypto faces some big barriers when it comes to onboarding new users. I wanted to focus on the typical fears of being scammed or hacked, unreliability, or that Crypto is “being used for criminal transactions” (Especially with all the current Terra & UST news). Whenever a large hack or scam occurs, news outlets rush to the scene to portray Crypto as unreliable/risky, further pushing away new users. Although crypto is obviously much greater than that, these stories push uneducated users further away from crypto, which is worse for adaptation.

I was just curious and wanted to make a discussion, would it be possible to mitigate the number of scams and hacks there are in the space? What projects are working towards this goal, how is fraud currently being pursued and punished, and how can we ensure more safety for users?