Most of ICOs either don't have a strong project or a good team. So you need to be careful while investing in ICO. There is no regulatory body who can control ICOs so it's your duty to analyze and research an ICO properly before investing in it. You need to check various things while investing in ICO such as whether a working product is there or not. Before investing in any ICO, I look for many points. I check these thing before investing in ICO - a working product or prototype must be there, project should have strong team, website should have all the details, whitepaper and roadmap should be clear. I also believe that ICO should have good rating on different ICO rating websites. After checking all these points, I invest a small amount in ICO. Be careful before investing in ICO.
True, many projects dont have potential aim or utility and those who have, dont have good team to look after its development. There we no regulatory bodies before, but now governments all over the countries are taking strict actions against the launch of ICOs and are regulating it to save investors from losing their hard earned money in scam projects.
The ICOs that will now be launched must first be registered under government before doing so. This will ensure public protection against frauds and scams.
Also, it is duty of every individual to do research and analysis about any project/ICO he is about to invest in because background check is always helpful to avoid investing in ponzi schemes.