Fake project is really frustrating if you're one of the victim especially for investors and bounty hunters.
I had read an interesting way to make sure the project is real. You can identify the project is fake by it's address of the company who is running IEO/ICO. Fake project would be indentify with this way because they put fake location. You can check it with google maps to verify if it's real.
So how do you indentify if the project is fake?
Most of the fake projects in cryptocurrency are really expert in communication that's what I had noticed for a couple of years staying here in this field of industry. They made a lot of promises, all sweet words that will attract the investors to invest to their token they are promoting it while it is running. And they always plagiarized their Team, whitepaper and Roadmap as well.