I think no ico scammer has been brought to justice uptil now but many cointries are busy in setting rules and regulations where only legit ones will be allowed to raise funds and the scammers will be caught and punished.
Yes the protection to investors are really low, Even bitconnect CEO is seems like not getting on jail. We do need a regulation to protect people who invest in cryptocurrency. I believe ETF will be approved by SEC. approvement fro SEC means that they do care and concern with crpyotocurrency and trying to protect the investors from a bubble.