Some ICO and other crypto projects are totally fraud. I myself has invested few thousand dollar in one of them and it turned out scam. I lost my investment and learned hard way not to trust every ICOs and cryptos. However some are good to invest.
Always be careful about investing real money or crypto. In crypto even more. Lack of regulation creates a greater chance of being cheated. Using all the available options to get to know the project will help reduce the risk of cheating.