there are a lot of factors that make possible the failure of an ico project, one of which is as you explained, namely the team that works behind the project really only aims to raise money and then run away the money somewhere and not return it, it is usually called a scam projects, and other facts are the development teams working in the project have maximized their work and apparently the sales of tokens did not reach the desired target and they announced that the project FAILED was not a scam like the alphateca project which was completed a few months ago but the sales of tokens did not reach the target they wanted the development team and they announced that the project had failed and then they returned the investment money to investors who had invested in the project. and actually there are still possible causes of why there are so many ico who fail or even scam, but I also don't really understand the problem.