ICO is funding eventorganized by different project to initiate a course of pursuing an ideal, developing a service or creating a product! As it is with all start up, not all project will get the required funding or go on to be successful!
Yes, there are now a lot of fraudulent ICO projects, they are constantly doing negative news to scam the newbies, but now not only beginners cheated but also old ones are still experienced So I think that today's market is not easy for us to make a profit from investing in ICO