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?
Because they do not know that that ICO will turn into scam

. Simple.
I will offer your invest into my ICO and at first I will say that it is a pure scam, will you invest? Ofcourse that you won´t.
Of course it is. No one can be stupid to invest in a scam project, and they lose all the money. They only knew that the project was deceptive when they realized that the project had disappeared. No one can know in advance when investing in ICO, the most adventurous game