Off the cuff thought, but I wonder if the early days of modern banking were marred with such blatant fraud and deceit.

I think of stage coach robberies of US bonds, and the various bank “rug-pulls” (to use crypto fraud nomenclature) that occurred before the Coinage act of 1857 - but it’s such distant history it’s hard to find how people felt about it at the time.

What I’m getting at is this - is crypto fraud innate to it’s very essence, or did all “advancements” in banking technology have the same problem before everyone settled in and “got used” to attempts at fraud.