Frankly speaking its  one of the best scams so far cause it took-off as one. The wasn't any real plan to build a wallet and the distribution was
willing haphazard like i said here -> https://bitcointalk.org/index.php?topic=734477.msg9014849#msg9014849
Then the attacks came in from Senior Members, wow. The plan was to make you keep your own coins, waiting for the wallet and whilst they sold off theirs.
When their plan stopped working because a few kept asking for the wallet or source code or even a screenshot of the wallet then they use 'the big announcement scheme'.
These guys had experience, they are no strangers, they've been around and have certainly backed other scandalous scams like COMM, FAIRCOIN, SHARECOIN, SATURN²COIN,  etc

People please be careful. Don't get into buying free coins quickly.