The fraud associated with cryptocurrencies is quite unlike the typical fraud associated with OTC stocks.
But, it is fraud nonetheless.
It can only increase due to the growing number of individual issues.
In theory decentralization has been touted as a good thing by the proponents. What we are witnessing is how this decentralization leaves the exchanges highly vulnerable to fraud and manipulation.
The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.