the first time to hear this exchange may be the question whether this exchange guarantees with security, because there has never been an exchange that can never withdraw money from trading?
Only a trap for potential traders. People should be vigilant with these fresh exchanges sprouting from somewhere. Usually, you have no assurance if you can even get your original coins back. And with very questionable background of this project, user must be very cautious in dealing with them. We don't know if they are bluffing about this fiat-backed project. No reply as to how much they are backing from those available coins.