Cryptocurrencies often attract skepticism due to their lack of regulation and transparency, creating fertile ground for scams. Many projects promise revolutionary technology but deliver little more than hype and inflated valuations, driven by speculative trading rather than real-world utility. The anonymity of crypto transactions can be exploited for fraud and money laundering. Additionally, the rise of "pump and dump" schemes and rug pulls in the token market underscores the risks, leaving many retail investors vulnerable to losing their hard-earned money. Always do thorough research before investing.