Thanks for the replies everyone. Some good counter-arguments. The company/team directly involved could certainly be scammers, but I also wonder if they might be innocent and have been hacked somehow? It's certainly worrying that they haven't addressed these allegations directly and have shut down their communication channels instead of tackling the situation head-on or releasing a press statement though.
I think I will wait until it hits an exchange (if that ever happens).
If somehow they might been hacked. I would think Andrew would reply to my messages and email. He has not even read my telegram messages since Jan 25 or respond to my email about my guestions to comment on the sitiuation after Rijnsent posted his findings here and in their telegram.