If you look into the history of penny stocks, crypto scams are the new penny stocks. Penny stocks have been around for hundreds of years before slowing  down, mainly because a better platform  for scams  came with crypto. The illusion of getting rich fast and easily blinds normal people. Sadly, these scams will always find another sucker. 

 There is no doubt about that. A sucker is born every minute as PT Barnum said.