[buryat]

I tend to believe that it was a scam because they refused to disclose the contract beforehand and there were some people claiming that it's a scam few months before [1].

[1] https://bitcointalk.org/index.php?topic=1905500.0

[Obi_Juan_Kenobi]

I say this without an ounce of hyperbole: I assume all ICOs are a scam until convinced otherwise.

The majority aren't outright scams (willful intent to defraud), but most are capital grabs with virtually no chance of being successful businesses.