IEOs are becoming a threat to those who rely on choosing project from any exchanges,low rated exchanges have already joined the IEO rollercoaster and projects funds are been raised through these low rated exchanges which to me is a very dangerous risks for anyone who invest in projects from low rated exchanges or even new exchanges.
Do not forget that many new projects are coming into crypto space focusing only on the funds they will raised through IEO/ICO
I don't think they are frauds. These are bad projects like projects that are mobilizing capital through ICO.
Small exchanges such as Exmarket, VinDax, Bitforex, IDAX will often not be responsible for the price after the token is listed on exchange.
That is also the main reason why prices plummeted in less known projects.