Yeah, it's so sad that people are taking advantage of other people's gullibility and ripping them off. A friend of mine lost a lot of money in an ICO that he didn't do his due diligence on. Even if you research it fully, how can you ever know if it is legit? There's not a lot of validation around now in terms of security. We need a way of actually being able to protect ourselves, like collateral on a loan. There's a reason why banks ask you to declare your assets. They want to be able to come and take them if you don't pay up. Maybe we should have a similar process for ICO's? That way they can put their money where their mouths are.

The problem is, most times the amount of money going into these things is much higher than the net worth of the people behind it.