There fraud or fake projects do continue to pop out like mushrooms because there are still people who do support nor advertise these things.
They are just simply waiting for those fool investors to buy their shit tokens.
I am not following the project sections for years as there are ton of projects which are created to make money for the developers and now people are aware of the situation and you will never find that kind of investors which we used to see in the past because everyone is aware of the risk involved in investing in these projects.