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?
Perhaps, there are so many ways to find out first check if their whitepaper is copied from the other project or plagiarize, then also check their team as well and if you find out a lot of promises and sweet words, you better be careful and leave that project at once so that you may not become a victim by them in the end.
You will never distinguish scam projects if you use this method, scammer is much smarter than before and makes everything very legitimate. That's why many experienced investors get stuck investing in new projects, and they have become scams. Please only invest in projects invested by large investment funds in this market, or IEO projects at major exchanges such as Binance, OKex ...