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maybe yes or maybe no.
always do your research before investing.
many altcoins are speculations, hyped up, or scams.

And there are many ICO available, it just a gambling :)

yes, it is so easy these days for anymore to create a fake website, white paper,and even fake developers profiles. icos can be made by scammers, by crypto newbies, and or even by people who think they gonna get rich by just having an ico.