It definitely looks like a bait and switch. You should stay away from small companies that are offering vast incentives to random users as they rarely have the financial reserves to complete it. In fact this definitely fits the profile of a ponzi scheme, where they are dangling free money in front of people in order to get them to deposit lots of money to "unlock it". However the end result is, that money they enticed you with never actually existed and now they have hundreds of dollars of your money as well. If they do this with enough users they could easily disappear or claim to be hacked and sail off into the sunset with nobody able to find them. Your best bet is to take any free coins you get but never deposit a penny in order to cash them out, just accept that until you get control of them (with ZERO strings) then it doesn't really exist - it's just a made up promise. Take it as a lesson and move on.