This scheme already used by a few scammer projects, the worst have been seen is "MONEROGOLD" token. They created the token, distributed the token by using an AIRDROP system so without any ICO system, listing their token on the exchange from their own money, making the price FOMO and you want to know the next part? they changed the smart contract code and make the supply unlimited dump it to 0 sat on Coinexchange. The main point is, the project still can scam people by listing their token on the exchange and when they feel the book order has big enough or maybe more than the budget they are spending they could be dump the coins/token and exit scam.
From that's an example, means not conducted ICO/IEO there still has some chance they can do a scam.
I think this trick will continue to happen with that and they will have their own capital to do the cheating later and make their tokens hype to make people more FOMO then it will be an opportunity for them to make money from investors or trade so the core of projects like this will definitely happen again in the future.
And the current project is just copying the Whitepaper from another project so that their thinking is the same so that it makes a lot of people fooled by them so there we need to find out more about the background of the project.