In the past 6 months there were a lot of newcomers in crypto and with the ETH ICO platform, lots of scammy devs saw the opportunity to create tokens with false promises in order to capitalize on top of these noobs.

In summary, these devs pay exchanges for the listing in order to pump and dump. This has been happening for several months and who knows when it will stop. The crash on these ICOs will be similar to what happened in the dotcom bubble.