The offer is done through a smart contact and cannot be placed if you don't have the money.

1630 Ethereum isn't that unlikely, Ethereum was worth ~$120 last March so that's only ~$200k. That's probably nothing for the CEO of a cryptocurrency company (https://nitter.dark.fail/sinaEstavi)

Seems like that's an ideal problem to solve using a blockchain/smart contracts (a distributed auction). If they can't verify these bids are real & will be paid out that seems like a complete failure of the technology.

Edit: their website doesn't go into detail much at all, so I don't have high hopes for this