Deleted for FUD,
The issue here is the owner/operator of the exchange is saying that he is trying to make all those that lost funds "whole" again - that is open ended as far as timetables are concerned but in his defence to any sort of legal case against him he can cite he was not trying to scam but trying to return funds to victims of alleged hacks.
You are probably right, it is probably his baby and he cannot let go easily but there is also the possibility there was no hack and he took the crypto for himself and blamed an imaginary theft. Either way, the exchange and those owning/operating it cannot be trusted.