Yes, investing in ICOs are very risky especially if you get involve into a scam ICOs. Beware there are so many now! So you must make sure that you are investing in a legit ICOs with good team and nice project. You will be the early adaptor of the coins and you need to hold it for long term if you want a good profit.
Hard to find it does not mean is impossible. So we nee only more effort.
investment to an ICO project can be said to be 50% profitable, and 50% scam. This is not an instant investment, it takes months and even more to reap the profit from it. Learn, thoroughly aim, watch the activities of the team, and try to follow the project when Pre sale, so you can get token with cheap price.