If there ever was an exchange being worked on fixing it would be the most obvious thing to do.
Throwing out the whole thing now would be idiotic if securing it was all that was needed to complete the project and deliver what people paid into.
If you think simply claiming the 'exchange failed' is sufficient information at the final hour, shutting everything down and keeping the ico funds, you're kidding yourself.

The whole thing was just another shitty ico money grab
If it walks like a duck.