What kind of question is this? seriously? some are some are not. Do your own research and find out. Nobody on this forum can tell you what's best for your money, it's your choice ffs.
ICOs for anonymous projects are illegal and it is still going on, I have not seen any litigation related to these projects as these projects are unknown owners.
For projects with clear owners and company registrations, the ICO is legal since they have registered the company in a country that allows an ICO to be held, usually an ICO comes with AML / KYC standards.
When an ICO doesnt fulfill the legal regulations of a certain country don't participate. Easy as that.
Many have been scam with ICO. I dont think ICO are still Legit. That's my opinion. These days, projects prefer ICO to IEO of they know they are not Legit enough to do IEO
I think something is upside down, now it's not the era of ICO anymore, even IEOs have started to be quiet since DeFi was established, although some people still think that DeFi won't last long, but DeFi is currently in a good trend.
DeFi is the same horseshit as ICOs in 2017. Dont burn yourself.