One thing alt coins NEED is a professional audit company. A group that has no ties to any particular coin that will review code and certify "Non-Fraudulent". If the exchanges work with this company they could agree to not accept any wallet code that is not certified.
Be mindful of "solutions" that could turn out to be worse than the cure. "Who Watches the Watchmen"?
People in the audit company would have tremendous incentive to cheat and play on inside info, especially if a coin is already being traded on other, perhaps smaller, exchanges before an exchange like bittrex using an audit process reviews it. Look at the insider games in Washington, including what goes on between politicians/regulators/credit-rating agencies and investment banks.
The problem isnt process - it's human nature and the fact that people, no matter what role they're in, tend to act out of self interest, often at the expense of others. I think the true solution comes from a lot of parties, including individuals coin buyers themselves, examining coins with greater scrutiny and multiple watchdogs (not just one) establishing a history, backed by performance, over time and competing for reputation. There is no quick fix - a true fix wont be quick.
