Yea, we really have to be careful about what we are investing in. I personally have lost a fortune on bad investments. we really need to do our due diligence when it comes to investing in projects. the funniest part is, the scam projects usually have sweetest of websites. It's important that you make your own digging on the projects you come across so that you won't end up with the wrong project.

I'd suggest that before you invest in any project, you check their team's LinkedIn accounts. try to verify them and ensure that they are true. any suspicion should be cleared out

A good next thing to do will be to check the GitHub of these projects. a project Github tells a lot about their projects. the more the activities on a project's GitHub, the higher the chances of that project being genuine

Investing is an art, not a science. hence, don't try to use scientific research mentality to judge investments. instead, think right outside the box and the best ideas will come.