https://www.reddit.com/r/CryptoCurrency/comments/7m3jt8/if_you_are_invested_in_verge_get_out_now/
In short, their only developer has been out of contact for more than 2 months, and the marketing team has quit the project. Seems to be having major internal problems according to the above post.
People are already signalling dumping of XVG, which is resulting in a major drop in the price.
May be a rumour but the dump is already happening...