ICO's are purely risky investments. It needs time, effort and money to be part of it. In this kind of investment, doing a lot of research is the best weapon to counter scammy projects. I am into ICO projects too but I can only afford to lose my time rather than money that is why I participated in bounty campaigns. It is undeniable that some successful ICO's gives investors much profit but yeah we can't also hide the fact that it could sometimes lose our investments. So avoid participating into a too good to be true and nonsense projects. It is hard to tell scam from legit projects without doing some research.