To see what can happen with an ICO this is a good read. Were were robbed of all premined coins and all ICO cash 380 Bitcoins. Then thieves called us scammers and are now dumping all the stolen coins on unsuspecting purchasers.
Please read the original Bitcoin Talk thread at https://bitcointalk.org/index.php?topic=1974261.msg19649715#msg19649715
And the original Twitter feed at https://twitter.com/thesuperiorcoin