Bankcrupted exchange or scamming investors?

https://thenextweb.com/hardfork/2019/06/04/blockport-bankruptcy-cryptocurrency-exchange-sto/amp/

The first part of the story where blockport couldn't make up $1.5 mil in investment and had to file bankruptcy seemed like just a failed crypto venture. However read more the company already made $15 million selling a token. How convenient to go bankrupt when the company has a exchange operating and the $15 million in initial investment? Sounds fishy?