A very smart scam
A very smart scam. It was backed by a Discord server called 'Crypto Love' or something like this. The owner also was called 'Crypto Love' or 'Crypto Lover'.
The guy should be tracked down, as he recently, it seems, changed his discord name and created another similar server for another exchange scam website.
The server was a fake 'pump and dump' type and it implied that the scammer has insights of when or how a specific asset will just explode in price.
His reasoning was some sugar story like 'Whales come here and pump the coins. I am on the whale team but I want to make them lose money.'. Very clever trying to win the respect and consideration of the server. Also, a big part of the users were either fool guys that believed they could get basically free money or scammers.
Another thing that makes them 'credible' is how they blame other scam schemes. They usually blame the more pompous or unbelievable scam exchanges that 'give' you free btc or eth, but you have first to deposit first something like 3-500$ in those cryptos.
One last thing that really triggers the 'no credibility' flag is how the domain name on who.is is hidden. There is no reason for a business to hide its real name on their website, this straight up implies that they are up to no good.
If you found yourself scammed, I think you can try to find the host / domain owner on the who.is (which is usually Namecheap Inc.) and subpoena them for giving out the personal details of the scam owners, then proceed into legal battles with them. But more than probably as how deplorable are authorities / legal system when it comes to online scams, you wouldn't get that far.
Don't fall for any of those scams as the crypto space makes it so easy when they get your money to just run away with them (exchange to monero which is fully anonymous and off they go).
A list with other scams like btcsam: https://bitcointalk[dot]org/index[dot]php?topic=5209679.0
(Replace the [dot] with ".", without quotes)
Use only popular exchanges, even if they have their caveats, it is still better than having your money straight up stolen and not having any clue of what to do or where to report this.