Cryptocurrencies promise decentralization and financial freedom, but many are plagued by scams. The lack of regulation creates fertile ground for fraudsters to launch pump-and-dump schemes or Ponzi-like setups. Whitepapers can be misleading, and flashy marketing often masks the absence of a viable product. The volatility in prices attracts speculators rather than true believers in blockchain technology. While blockchain holds potential, the crypto space is rife with bad actors. Always do thorough research before investing and be wary of promises that seem too good to be true. 