I dont think its fair to say that ICOs are the cancer of digital currency. The truth is that without these ICOs and new altcoins like the AutoCoin, the digital currency would be useless. ICOs are crucial because they give investors that chance to explore new currencies and invest in ones, they find promising. Just because a couple of ICOs are fake doesnt necessarily mean that theyre all useless. You cant judge all by the characteristics of one.
I think the venture capital firms are the root of the problem.