At the end of the day, BGP is a very trusting protocol and it requires keeping the neighborhood clean and clear. IMO providers should be filtering prefixes their clients shouldn't be announcing (al la BCP38) but keeping up on the various IP blocks being shifted around is a paperwork nightmare I'm sure.
For instance: If the IX is located on the 15th floor of the building. An ISP might be colocated on the 12th floor. Fiber XC from 12.501.P4.D4 (12th floor, row 5, rack 01, fiber patch panel 4, SC duplex port D4) to 15.201.P1.D4, then a fiber cable from D4 to an SFP+ port on the IX's switch. Unless somebody physically hijacks your fiber crossconnect and moves it (which would be noticed as hard down immediately) it's pretty hard to pretend to be another ISP, from the perspective of the switch fabric operator of the IX.
Any asshole can theoretically make a fraudulent LOA, but by producing one to an upstream a hijack factory opens itself up to criminal charges of fraud and forgery.