Do you know for sure that they have raised 50 million? Or it's just a number from their website? I think that if the project has raised these funds for real, you need to wait some time and they will make listing of their token.
Now that projects get investment from private investment funds, they don't receive that money through the blockchain. So I find it quite difficult to determine whether they have a scam or not based on listing exchange after raising $ 50 million
That means if this project can't be trusted at all. in fact, these projects are lack of transparency and i think that we must need to put our main concern in this way. In fact that you must see about the fact that not so many people are able to get the information regarding private sales and this is not good at all.