Love em or hate em - they exist and are perpetuated by equal parts greed, manipulation and profit. One caveat which is overlooked by many of the newly incorporated, is the signal manipulation by a select few in terms of entry and exit prices, resulting in profit deviation.
Regardless of your take, social media such as Facebook, provides many avenues for such groups to exist, advertise and market their promises and signals to many unsuspecting and profit seeking individuals. After all who is only involved in digital assets strictly for the technological promise and innovation as opposed to profit potential.
I guess for some, such groups will always represent the worse in human manipulation akin to ponzi schemes or banker bailouts whereas a few at the top of the food chain profit while the peasant class suffers, absorbing the loss or transfer of wealth.