no, i don't think their ico is a scam. they're attempting to add alot of things in their roadmap. instead of introducing a lot of potential security issues on their existing platform, I think they will accomplish it via their new coin. For example they want to support a lot more altcoins, and even exchange directly via fiat. A new ico just make sense in many ways in contrast to doing all these changes to existing platform. It's also another revenue stream to their already lucrative system!
RE: Texas state securities serves Bitconnect an emergency cease & desist order