Personally , I don't think there should be an ICO without whitepaper. The whitepaper bridges the gap between an investor and a company. Can we say a ICO without a whitepaper is a scam? Or what can you say about an ICO without whitepaper
of course projects that do not have documentation, want to leave at the expense of HYIP. And there is no documentation because they do not have it, it is a fraud. Who want to get investors through artificial HYIP. Such projects should be avoided