I think proper research about the ICO project can save us from fraudulent ICO, no need to be greedy single -ve point means to get away from the ICO. Most important parts of research are project team and project product or service after the successful ICO.
ICOs are high risk:high reward investments because it can go either way which entirely depends on the developers' integrity; some of which have already proven to have none. It's a waste that new ICO investors just sit on the sidelines waiting for change while legitimate projects end up not getting the funds they deserve.
I'm anticipating a project called MenloOne that's soon to be an ICO markeplace, where its developers mentioned that it will help stop fraud with their unique, decentralized platform. There have been no other similar projects launched before and I'm hoping that this is the change some of us have been waiting for.
The current state of things is that bad that everyone losses except the scammers, investors looking to earn money and to support good projects lose their money without any compensation, the developers of real icos are unable to get the funds necessary to develop their projects, while in the other hand scammers get all the money and they are not punished by their actions.