Doom's Day for OffShoreClub?

I went the offshoreclub website (ip: 84.16.240.203) today, I saw this announcement regarding the status of this famous and long lasting program. Here is the bad news posted on the site:

Dear Offshore Club Members,
I writing this sad news to share you some facts that affected our business and put Offshore Club in a situation where we can't move any step to any direction.
To sum up the story, we will tell you exactly what happened with Offshore Club
from the beginning of 2006.
First of all, let's remind you with what happened with our e-gold account before 2006 which was our first financial disaster. E-gold start blocking all our accounts without any reason or previous
notification. We have supplied required Due Diligence documents 3(1) times to them, but they refused it accordingly to item 4.6 of their Terms of Use:
Quoting:
4.6. Right of Association
Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.
In the middle of 2006, the impact was harder which was made by another payment
processor which was Uniclear Express. As you already know Uniclear stopped withdrawals from their system and significant amount of Club assets was frozen there. I strongly believe that Uniclear would be in business later, but we can’t get our funds back still.
The same big drama kept going on.. and this time it was our wire transfer processing system. During short DDOS attack on our hosting provider some of our customers ordered charge back of wires sent to the Club. Banks of this customers began investigation and had put our bank account in “black list”. This situation draw unwanted attention of authorities and we faced with many other problems both online and offline.
In the last period of about two weeks ago, we were working very hard and
thinking on how to solve our financial problems. Unfortunately, after long investigation we decided stop risking with our member’s funds. We do not want to happen that situation when all our payment accounts would be frozen by authorities. As I already mentioned our investigation shows that situation is critical.
In light of this facts we decided to close Offshore Club as online investment opportunity. As we stated we guarantee our investors principals and we would start refunding process in next few days. You will find more information about refunding process on our forum. Please do not trust any other information sources and trust only official information from the Club. I suggest our members do not panic and calm down: We will refund your principals.

Sincerely yours,
Offshore Club Administrator.

This does look like the end of the program. The big question is: "will it refund its members?" Fortunately, I started to invest this program early, and withdraw principles and profits from time to time. Like any other HYIPs out there, don't be greedy, you need to withdraw profits from time to time. Look for new opportunities with the profits you made. It would be a painful lesson for whoever not withdrawing and was in profit. Do not have the same mistake again.