Hello, I am new in this forum but not new in cryptocurrencies, I started trading cryptocurrency in 2016 and my first cryptocurrency I bought that time is vergecurrency and other penny coin. And I returned my money in bundle because they have good tech and very good team..So early this year I noticed that a lot of coin is now scam and failed promises. So please if you want to buy any coin don't go to coinmarketcap only because coinmarketcap can list any coin without verifying it well, just go to their telegram group and ask questions I think this can help you stay away from scam coin...
Yes, there are a lot of coins born to cheat people. The people who created it for phishing purposes and have no ideas for developing their projects.
I often check ICO projects very carefully and never encounter fake projects. I often check the staff, ideas and managers in the telegram ... spend a lot of time researching a project, which will help you avoid the risk of fraud.
I think it is time already for people to create something that regulates the creation of those coins or at least an scheme that helps people know when something has a really bad reputation.