I don't understand why there are ICOs without whitepapers. whitepaper is a material for investors to decide whether to invest or not. how investors can trust an ICO without a whitepaper. I think the possibility of an ICO without whitepaper is a scam
If the coin was built in a rush then the coin could do fine without a Whitepaper. Many of the coins need a Whitepaper to explain what their goals are though.