As far as I heard, the ICO Scam raised over $ 1 billion. Why did people invest in these ICO? Do you think this situation has changed now?
You were asking why, I believe that because the investors didn't know that the project they invest on is a scam project.
I don't think the investors will put their money if they do know that the project they put their investment is a scam, i believe they will avoid to do that.