Regulasi aren't a golden bullet against scammers. As all those things become more obvious to the general public, scammers evolve to mimic decent projects with almost impeccable efficiency. Still, the most reasonable rule of investment isn't about ICOs or IPOs, it's just about your common sense. I mean no matter what, never spend more money than you can afford to lose.
Using common sense is good but at the same time its still all about decision making,even if you want to invest the money you can afford to lose its still money,not paper, so you will still think about the money you lose,the difference is it won't hurt much, so the fact is you can't predict what a project will turn out to be even when you do research,either you invest little amount its still a lose if anything goes wrong