Unfortunately the crypto space has become riddled with scams and cons. Its difficult to tell sometimes which projects are true, from those that are only designed as money grabbers.
Thats why we all need to play a role in protecting this volatile space.
In order to differentiate the scam and con ICOs from those that are true, you need to look at the following;
The team - Is the project created by firstly real individuals? Look into their social media accounts. Are they really who they say they are? Is there any content out there on these individuals?
3rd party/independent escrow provider - Does the project have an escrow provider? But, more importantly is it a 3rd party or independent escrow provider? Many ICOs claim to have an escrow provider or that their smart contracts act as an escrow provider. But, what measures are in place to ensure that the funds raised are not controlled by the project team? - This will ensure that the projects team delivers on what they have promised.
Is the website secure? - There are many phishing sites out there. Is the site youre on secure? Always look for the green padlock; found in the address bar.
Following - Does the project have a significant following? Check all forms of social media. A good indication that an ICO is a scam or a fake, is by the following its social media channels have. Scams are designed to simply take money. They are not interested in creating a real following or pushing out real content. Be wary however as followers for many social media channels can be bought.
Community response - Is the team active and responsive to their communities questions? Do they provide real and clear answers? Do they even respond to the questions their community is asking?
KYC/AML - Does the project implement or conduct any form of KYC (Know Your Customer) or AML (Anti Money Laundering) processes? These processes are designed to filter out individuals that only intend to invest into an ICO for money laundering or negative purposes. Criminals that have no real care for the future of the project.