They are manipulating as long as they can, sometimes they are saying that they have reached the hard cap but they can't even enter a good exchange, they just listing on an exchange which is free and no actual volume at all. So, for me, that's very obvious that they are not telling the truth, especially if they can't provide what was the actual raised, or proof of what have been collected and where are they going to use those fund.
That was the problem they can also manipulate even the ICO website to think that they have reached the hardcap. but its not and they will not give transaction to the address they are claiming bought by investors. Other give it but they are the one who buy the token not from real investors.
Many ICO manipulated sold coin information to public and make investor very interested invest on their project, before ICO ended they have announce about reached hard cap but never want listed on exchange market although have pass hard cap, after few weeks later annouce about little sold coin to public and make many investor disappointed for investing on ICO.