I do believe that some ICO's are fraudulent. On the other hand, some of them are very realistic and have an opportunity to success. I've seen promising projects die but some other raise. Certainly, people how want to invest on ICO's have to be really aware. I recommend anyone how is interested on ICO to do ton of research. Apart form being informed about the matter, you'll have a pretty good idea if it's a good investment or not just by looking at the feedback of the community.