There are many reasons behind the crash of the ico thats why the investors got tired, the reason is that most of the investors, especially the big investors, turns out that they make money in ico for a living. So when the ico got in the first exchange it is totally crashed due to many investors dump their coins.
It's not only about investors but also about the ICO itself. Because there were a lot of scammers, many projects faced with the problem of entering any exchange, just abandoned this business and began to develop outside of Finance, thus making their token a regular ticket for their services..
There are still a lot of scam ICO surrounding the current market and no one can't stop it unless there's an organization or government agencies that will manage to filter out those shady ICO or the one's that intended to scam investors money but as long as the government cant pave their way into the crypto industry there's still be a lot of people who will make living out of scamming.