ICO has always been criticized by many perspicacious peoples. From US Securities and Exchange Commission- Jay Clayton to the recent interview by the founder of Wikipedia- Jimmy Wales, Initial Coin Offering has always been in talk. On his recent interview, he said:
"There are a lot of these initial coin offerings which are in my opinion are absolute scams and people should be very wary of things that are going on in that area"
The head of the U.S. Securities and Exchange Commission also made a comment on the funding model. He said that it will be difficult to find the fraud as it is totally an electronic media and the person are anonymous.
ICO is an unregulated means by which funds are raised for a new cryptocurrency venture. But many peoples are in doubt about the security related to this funding model. Recently the ban of ICO in China and South Korea has questioned it's durability.