Hai guys now days people are really depressed this kind of new scam .They are Lost lot amount from this kind of format and getting only 40% return back.
1) ICO Stopped or Paused
2) Refund - When eth more 200 to 300 USD people invested some ICO now they are stopped and started refund now Eth price 95 USD .
3) Some ICO announced Soft cap reached successfully later their also follow this kind of refund method .
ex:
Trecento , Humancoin ,Vanig and etc.
As far as i am concern i don't see that as a scam if they refund with crypto value you contributed if otherwise then it is a scam of they use USD value of what you sent at the time they got your payment then it is an high class scam.