I still see some ico who commit fraud and abandon investors, just look at Sprintx, get $ 15M during pre-ico, they then stop selling and shut down their sites and various social media platforms
There are so many ICO scam like that. They get a huge amount of money from the ICO, and they completely disappear in a day. No one can trace them out because all the information is fake. So the ICO is now hard to get trust from investors
Some of them are really raw ideas. That's why they are failing. They need more strict rules and project development not to fail. Only a few of them do this and we see many bad results from some ICO projects.