All investments have a level of risk - it all depends on the project. Real-world use cases, roadmap, developer/leadership team, levels of activity, advisors, technological innovations etc.
Of course, you need to analyze a lot of information, but it seems to me that you still get 100% and you will not receive a guarantee, even if you make an analysis of all technical documents and even check the team and whom the company is. Anyway, there is a chance either to contact scammers, or to get a not promising project.
of course, the possibility of scam even though you have done technical analysis still exists because we don't know their intentions or then changes in intentions, especially if crowdfunding is successful and they hold hundreds of thousands of dollars. luck also plays a role in choosing the right ICO or altcoin..