No, that statement is not correct. In an isolated system, the total momentum of the system is conserved. According to the law of conservation of momentum, the total momentum before an interaction or process is equal to the total momentum after the interaction or process, as long as no external forces are acting on the system.
While it is true that individual particles within the system can exchange momentum through interactions with each other, the total momentum of the system remains constant. Any change in momentum of one particle is compensated by an equal and opposite change in momentum of another particle within the system, ensuring that the total momentum is conserved.
This principle is a consequence of Newton's third law of motion, which states that for every action, there is an equal and opposite reaction. The conservation of momentum is a fundamental principle in physics and plays a crucial role in understanding and analyzing the dynamics of physical systems.