This is sad. They had a good game going there, and you can tell the devs had their heart in the right place. They had serious struggles with cheating early on in their game, which impacted growth and retention of players, but they dealt with it so well they should become industry standard in how to curb cheaters. Unfortunately it wasn't enough. Maybe the game would have been better if it was pay to play instead of free.
Meanwhile, Tarkov is still going, milking their cheaters for revenue, after half-assedly banning them and letting them buy new accounts again...