A dev team that stores their funds on a random exchange deserves to go down together with it's coin. period.
Besides that, i do not believe a bit of that story.
You lack all sorts of logic.
Mintpal was the number 1 exchange at the time, bigger than Cryptsy. It was a very legit popular exchange. If you own a lot of BTC you can earn quite a bit of money trading them and trading them on an exchange where the volume is high and where you know the owners is a good reason to hold your BTC there.
Lots of legit and smart investors lost their money in Gox. It's not so unbelievable that a coin or their devs had a lot of BTC on a top exchange [Mintpal] last year. Ryan Kennedy himself was seen as a respectable, top crypto guy before he pulled this scam.
What I'm telling you about syscoin is a fact. Your disbelief or lack of knowledge doesn't change hard facts.
Do a little research - it can be quite amazing finding things out before you see it in the news.