The people who posted above have already answered this. I have something to add for the next question.

Generally speaking I do not consider IEOs to be legit. It all started with the ICO buzz then people felt scammed when the devs and advisors dumped their tokens and abandoned the project with the investors having no one to sue. So they rebranded it as STO which also has no difference and now we have IEOs.

So there is no straight answer as yes or no. But do your own research about what project the money is being raised for. Majority of the times they are nothing better than a quick dump at 5-10% gains if not more. No use holding those coins as well. So do your own research and if the project never gets listed on any other exchange then you can say bye bye to your money.