ICO? Do not buy what you do not understand

Initial Coin Offerings (short ICO) are an offshoot of the Cryptocurrency Craze, of which Bitcoin is the most prominent product. Quite apart from the fact that most (not even financial experts) do not really understand the concept of ICO's in many cases the use to which the proceeds - your money! - is being put is also less than transparent. What protection do you get once your money is (hopefully) invested? How are profits (if any) shared between public investors and the promoters/insiders? I remain sceptical of all Cryptocurrencies - for better or worse we do HAVE a money and payment system that functions reasonably well. It only goes haywire if some crazed politicians get out of control (Venezuela, Argentina, Turkey for ex). Payments to anywhere in the world can be made in an instant and on superfine rates if you know where to look.
Too many ICO -peddle outright Fraud says regulator