I'm not scared of investing in ICOs but it isn't allowed in my country. There are some I wouldn't invest in, but it's usually because the company appears to be involved in shady behavior. Good projects are usually legit, and legit past the surface level as well. For instance, if there's a project that has a working product already, they're far more likely to be worth investing in because they're already working on it and producing results. A lot of ICOs are just tricks and you can see that by seeing they haven't actually produced anything.