Centra Tech, a widely advertised ICO had it's co-founder arrested after they were trying to escape the country with collected funds.
They were successful in raising 32 millions by claiming to offer a variety of financial products, including a debit card backed by Visa and MasterCard, with which users could instantly convert cryptocurrencies into US dollars and other legal tender.
Floyd Mayweather had previously endorsed the ICO, probably a paid job.
Thats the reason if you see some star , celebrity advertising ICO project then its a red flag . Ofcourse they get paid for puting his faces all over ICO project . Im really waiting for regulations to regulate ICO's more closely and close half of the projects out there .