The answer is YES if you are talking about ponzi method. A lot of ICO's are doing it nowadays. They just do everything they can to make money out of ICO's and runaway once they have enough. For those who doesn't know what ponzi means, you can google it or read the meaning below.

A Ponzi scheme (/ˈpɒnzi/; also a Ponzi game)[1] is a fraudulent investment operation where the operator provides fabricated reports and generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. Operators of Ponzi schemes can be either individuals or corporations, and grab the attention of new investors by offering short-term returns that are either abnormally high or unusually consistent.