This is really a misleading and misinformation by the bounry manager. Since IEO price is $0.03, why the hell he si referring it as $3? Makes zero sense. I would advise you to create a scam accusation or a thread in reputation.
Things like this occur all the time. People are drawn to bounties based on predatory tactics and often are captured by multiple-fake accounts propping up such a bounty.
In the end, understanding the premise of bounties, the legitimacy of the team/project and being realistic in terms of how much the payouts are going to be; is going to lead hunters much better off, while investing much less time interacting with numerous of useless campaigns.