Their strategy is misleading users upon using those fake testimonials.
How can you trust a project if they are using that kind of fake marketing on their website?
They should remove that section and be real with things if they want to attract supporters.
Otherwise, people will stay away from their platform because of this deceptive marketing.
It's too late for them they have been exposed the project now has an existing thread in the scam section, they overlooked it by posting fake testimonials by trying to make their project look great in the eyes of potential investors but unfortunately, it backfired now they are going to lose their reputation, no projects should ever fake anything written in their homepage.
I don't think the problem is simply overlooking the consequences of fake testimonial (and identify theft). It was not a poor judgment in attempt to create credibility, it was an entirely fake project from the beginning, it was their intention to fool people into believing them. A real project will not even think of using fake info for whatever outcome