Not really a scam. If it was a scam, funds would have been stolen and no one will be using it.
It just has a bad reputation in crypto space and on this forum in particular. Just becareful though and don't be greedy.
There are many accusations where they have their wallets offline for specific coins due to which many users have lost their funds. Not sure if they ever get settled.
I would still recommend to stay away while situation looks bad.