My 2 cents: This is a scam BUT these devs didn't intend to cash out this early. There probably actually are technical issues delaying withdrawls which have promptly people to look into the legitimacy sooner than expected.
Only issue they have is they are discovered in early stages as fraud and fake.
They have experience as scammers... and they made other exchanges and coin frauds.
Exact same thing happened with Exvo exchange
I can only say that their real location is in Western Europe,
and they are reported and tracked by authorities.
One more thing is that some mining pools still refuse to stop mining this crap,
one example is
minpool.net,
pool.friends-master.net ,
cvmpool.pw and
jptpool.comand I wonder are also some pools involved in this scam or not...