What exactly do you mean by No-ICO projects? Give an example so that people understand what you are asking. Projects have more control if they hold funding through ICO. So in that way it gives scammer chance to set a trap since there is no third party to look over it.
I guess the original O.P is referring to projects that did not perform token sales for example HYDRO which has continued to do very well in the cryptocurrency market despite not performing any crowdfunding.