Cryptocurrencies promise decentralization and financial freedom, but many are plagued by scammy undertones. Lack of regulation invites fraudulent projects, pump-and-dump schemes, and Ponzi-like structures. ICOs often lack transparency, with whitepapers full of technical jargon masking empty promises. The anonymity of crypto transactions can be exploited for illegal activities, undermining trust. While blockchain tech has potential, investors must navigate a minefield of sketchy ventures and snake oil salesmen. Always do thorough research and remain cautious. 