So they basically want to trade an exchange which trades creditor claims. So since many are owed MtGox, Celcious, FTX claims they can sell their claim for pennies on the dollar and get some money back NOW instead of waiting a few years. MtGox claims I think were something like 20% back in 2015. The more evidence of the company being solvent then obviously the higher the claim will be.
Think of it as those ICOs that give a free airdrop (USDG) in certain amounts, then if the campaign succeeds and obtains the necessary liquidity, it will begin to fulfill the value of the debts, otherwise it will collapse, as happened with FTX.
As for the claims, they will set easy conditions at the beginning, and after people trust, they will tighten a little, but I see nothing more than scam or a new network marketing system where the money of the first clients is what finances the project, in addition to the debts, and the printing of these free tokens.
The most important question is, is this legally permissible (assuming it is real)?