Necessary but not sufficient....
I can't quite tell whether you're trying to underscore a point about cryptocoins' benefits or if you're misunderstanding the conversation.
Just in case it's the latter -- I was probably a bit too fast n loose with the quotes around "fraudulent" so I will explain in more detail.
From the article:
> Phishing was the most widely used hacking technique for ICOs, with hackers stealing up to $1.5 million in ICO proceeds per month, according to the report.
This is a kind of "fraud" which cryptocoins are not designed to thwart. If you steal someone's keys and take their money, it can't be returned to them unless the thief decides to return it. This is very much like cash.
The problem comes from decentralization. In the Real World, we usually defer to authorities when it comes to crime and restitution. The authorities come to a determination and publish their decree. This is very much centralized. Cryptocoins are decentralized and are simple automata. There's no authority that we can appeal to in order to reverse a transaction that was executed in bad faith. Part of the problem is that there's no way for the automaton to trust this authority without destabilizing the entire system.