protect from what ? Ieo does not protect anything but they will only protect their own business from scammers and hackers . They also protect their business from the authorities in which they will get certification and approvement from the local government so that this will make thier business more legal .
Speaking of protect , bounty hunters dont get any protection from someone else but bounty hunters should only protect them selves from those fraud and scam projects
How can bounty hunters protect themselves from fraud if they don't their bounty campaign is a fraud or not. Only thing we can do is to enter a campaign where the campaign manager has a good trust score and research the ICO/IEO team background to see if they are legit and hope they honor their word.