According to ZachXBT, there is a noticeable increase in cryptocurrency scams, with many people reportedly falling victim to these fraudulent schemes. Traders should exercise caution and verify the legitimacy of any crypto-related investments before engaging in transactions. ZachXBT's observation highlights the persistent risk in the cryptocurrency market, emphasizing the need for enhanced vigilance and due diligence among traders.

According to Larry0x, discussing fraudulent schemes in the cryptocurrency market is often futile because any criticism tends to provoke backlash from investors who are overly committed to these schemes. Despite the temporary rise in prices, these investors attack critics, making it challenging to address the underlying issues.