Depending on your nationality and location of commiting the crime though. If you're in a country that feels cyber crimes are actual crimes, you'd be screwed. If you're in a country that says as long as you don't commit these acts acts your country or fellow countrymen, you're good to go.

I was suggesting that useless ICOs or similar vaporware crypto projects are rarely considered crimes in most countries.

The ICO typically gives you a shitcoin in exchange. You technically get what you were promised. It's just that the utility for said shitcoin never appears, but that wouldn't count as a crime.

Making a blockchain-powered cat food company and raising tons of money from investors without delivering anything is not a crime either, that's the expected outcome for 90% of startups.