I think the top one at ICO is the CEO, I see that some ICOs are always led by CEOs even though not all because there are some ICOs that each team member has the same rank, no CEO, no job and their rank is the same, yes, all work as scammers , I found that fact in several ICOs
It is not CEO.
Project founder is on top of each project and they usually hire freelancer CEO and other officers.
The hunters and investors are just risk takers.
Investors are risk takers and bounty hunters are rewarded for their free time spent on hunting free tokens. Risk takers are team members too because if founder scam team will be prosecuted.