ICOs, which is similar to crowdfunding, is a great and easy way for startups within the world of cryptocurrencies. Not surprising that this year alone they have raised around USD2.4 Billion.
Mr. Wales, the founder of the Wikipedia expressed his caution towards the cryptocurrency ICOs calling them a scam!
ICOs are not regulated and investors are not safe, due to the high probability of an ICO being a fraud. During last weeks China and South Korea banned ICOs.
Read more about that here