This coin is NOT fake, and the coin recycler works, but the devs awhile back in irc said that the coin is open source, but the coin recycler part was not. So the old devs will have to give the code to the new ones.
i'm pretty sure he said here a few weeks back that he didn't mind if anyone looked at the code because it's open source and just API's interacting with different exchanges.
I think it's the wallet that was closed source. But that never got released anyways.