KintoXYZ ‎ Project Collapse

The project claims it was hacked in Arbitrum contracts resulting in the issuance of tokens ‎$K on the network

-> By the way, the project had a presale of 15$ and listed the token at 7$ , and it dropped to 2$ on the same day..... then it rebounded to 8$ and at the time of listing, the platform was down and no one could receive their tokens

Is it really a hack or manipulation by the team for dumping and fleeing?