Disclaimer: you will die. Lots. The adage is "don't fly what you can't afford to lose". There's no equivalent of "this is my special invulnerable armor and the sword of my great-grandfather", because when someone inevitably comes along and blows you up, it'll be their special invulnerable armor etc.
Also, the concepts of fraud, scams, and so on are unusual in Eve in that they're actively encouraged, or at least explicitly tolerated (with few exceptions, like you can't claim to be an official representative of the game's publisher). This is known as "adding content". As in, if you complain that user Foo defrauded you out of a few hundred dollars of in-game currency, the response will almost certainly be along the lines of "wow, Foo added a lot of content to your game, huh! You should thank them for it. You can't get that kind of entertainment from an NPC, can you?" This fosters a certain level of paranoia.
i dont think that works anymore now? Not sure...but it's human nature to scam! There's been so many pyramid schemes it's not funny!
What changed that disallows it? Did they remove the skill? Can a wallet go negative? Even if they forced the buyer to take the item and give the amount of money reserved to the seller, the scammer could theoretically just make sure that the buy order is close enough to the sell order that the seller still receives less than they paid. (though it makes it seem like a less juicy payout, so people would fall for it less)