I don't agree. Crypto scams don't destroy its image. It's like saying that fiat scams destroy fiat's image.

If someone doesn't feel like having cash is dangerous after reading that someone was robbed he shouldn't feel that it's dangerous to own bitcoin after reading that somebody was scammed online.

So many people in the US fall victim to IRS scammers or fake Microsoft support from India and they keep using fiat money. It's their way of thinking that should change not crypto.

Scam cryptocurrency exchanges could be everywhere. Scammers have big organizations that doing these scams and we can't really stop it. These scams have a big effect in the cryptocurrency community preventing the adaptation because most of the people are afraid to try crypto because they thought that online currencies or online investment are just scams. I think the government could educate people with cryptocurrency to avoid this problem. If people have knowledge in crypto they are a low chance for them to get scam. Newbies most likely get scam because they don't have the knowledge it bitcoin or cryptocurrency and then easily get carried by a big profit that a scam investment promise.

At this point in time Cryptocurrency and scam scenarios go hand and hand.
Nobody can deny that no matter if you are pro crypto or not.As I myself am a bitcoin maximalist and promote it any chance I get.

But it was built on the back of irreparable companies and sites such as silk road and mt.gox.
It's reputation has been tarnished and when putting bitcoin or any cryptocurrency on a pedestal these are in the back of everybodies minds when the next company or entity will come along to screw everyone over.
It had been done time and time again and just seem to get easier everytime these companies do it since they have learned from the previous iteration of the scam attempt and don't make the same mistake as they did.
Bitconnect and the clones. I think there was even a bitconnect v2 called bitconnect x or some thing like this but never bothered to follow up on it because so many have gotten burned by this ponzi scheme already and once bitten twice shy as they say.
But now these scam teams have gotten sophisticated enough to cloak these similar schemes in a blanket called DeFi.
And it seems many have gotten fooled by these very same schemers being blinded by greed.

If its reputation to be pulled out of the gutter once and for all then it would need to separate itself from these ponzi schemes and scam attempts and do away with trying to gather those who are only seeing it as a means of getting rich.
Which is the main purpose why all these new customers are only getting into it.
Because they heard it from a friend inwhich they only have dollar signs in their eyes.

Crypto is greatly affected by these scams. Some people thought bitcoin itself or crypto in general is scam due to similar incidents scamming people and left with nothing. We can lessen this from happening and it will start to ourselves by conducting a research and not greedy to earn.

Thats why its important to have knowledge in any kind of investment we're getting in not only in crypto. Scams are everywhere and if you can be easily convince then you might end up one of their victim.

This is why the government should regulate it, imagine if the government still ban crypto currency there will be many illegal exchange. They will hide the activity form the government. Crypto currency has been known by most people know and I guess they are interested to know more it and having it. If they learn in the wrong place there will be many people who will be victim.

Then, we will compare if the government accept crypto currency at least for investment purpose. The government will select the exchange which has a good credibility so as the citizen will only use an exchange which has been regulated by the government, the risk for the crypto user being scammed is really small. Even, the government can impose taxes on registered exchanges and this can help state revenue.

if i recall i think i have heard the name pluto before . that can be the same pluto exchange that turned unto scam but the first exchange that proposed to government are different ? if yes, govt.s should not treat all exchange the same . if exchange needs permit to the government to run , scamming should not be a problem because they have the records of those scammers  .

going back to the people that got scammed , they got fooled of the 30 to 40 percent return offer . thats not even sound legit  , if im the government i will not listen to these people .

Scam projects and scammers are always everywhere either in cryptocurrency or fiat currency. Not only newbies get fooled with this scam strategy also those people with a desire to get more money quickly. That's why having knowledge about crypto is better and can help everyone to avoid scam projects and investment.

Scammers are really strategic that's why they convince a lot of people to believe them. Well, money is very enticing to the eye of they people that want to get rich quickly and scammer use a decentralization of cryptocurrency  to make their evil plan. There is a saying "if no one cheats no cheater" .

Lack of knowledge about cryptocurrency increases the number of people being a scammed using the idea of it. Since it is not regulated by the government they have all the guts to swindle money from people who have a little experience with crypto. People nowadays are easily blinded with the amount of money that they would expect to earn, thus risking their money with it. If only the government was willing to introduce crypto to its citizens and educate them about it, perhaps it may minimize individuals falling into fraudulent projects. And people will not see cryptos as a scam.