no, i think IEO prefered to protect investor not bounty hunter, as i know my friend participated in bounty campaign and this campaign launch IEO and the exchanger make rules for not running bounty campaign for the project, that's why IEO not proteting the bounty hunter but Investor
it is only for some rules of exchange, not all exchanges provide the same rules. many projects also carried out the IEO and continued to run their bounty campaigns. but it does not guarantee that the bounty will be paid, because I think the IEO or ICO will still remain the same.
Are you really sure that we have project that run these two same time, as in IEO and ICO, because for them to involve hunters, they must have been running ICO too which is to get investment directly from investors unlike the way exchanges gets the fund for the IEO projects before remitting to them I think.
Most IEO bounties that I have seen or which I will say we call IEO bounties are just some few projects that chose to later change their funding method to IEO and I learnt from this forum that they usually close bounty campaign once they make registration on IEO platforms. I dont think IEO projects really needs hunter or do you think they do?