As Bitcoin Bubble Loses Air, Frauds and Flaws Rise to Surface

“Cryptocurrencies are almost a perfect vehicle for scams,” said Kevin Werbach, a professor at University of Pennsylvania’s Wharton School. “The combination of credulous buyers and low barriers for scammers were bound to lead to a high level of fraud, if and when the money involved got large. The fact that the money got huge almost overnight, before there were good regulatory or even self-regulatory models in place, made the problem acute.”
https://www.nytimes.com/2018/02/05/technology/virtual-currency-regulation.html