This is f*cking joke! You can't make up an excuse for being hacked and stop paying. He never reported about any funds being stolen. Just a fiction story. No evidence of any hacks. The guy removed 2fta and secure http himself. He claims he is changing weekly payments to user balance system. But 5 weeks later we can only see a wee change on the site after some user started digging some info on Chris. The change would take a beginner half an hour to perform.  So far only excuse, delay and another excuse.
The only thing I can see might be true is some dishonest user started changing payment addresses right before the payout and later contacting Chris somebody changed address and payment went to 3rd party. That is why he later implemented 24 hours and 48 hours lock downs.
He is claiming "fake shares and orders were present in database (and backups)" What's a lot of bollocks! I would believe somebody hacked in to the actual ltcgear.com website, but he has added backups. Where do you guys store backups? Obviously somewhere away from original sources. So he is claiming everything related to ltcgear was hacked and scrambled. Smart hackers not only hacked the actual site, but gained access to his computer and fiddled with backups. What an amateur he is!  
My conclusion is the story is fiction and completely made up!