Yes, near as I can figure.

I mean, it looks like the group that took it over just set it on fire?

This is all orchestrated by a guy who thinks buying fake Korean royalty status is something meaningful (as opposed to what it is: something to laugh at). I'd speculate he bought it thinking he'd be seen as King of Freenode and everyone would bend the knee. It was when the proles didn't go along with the program that he and his minions launched into the scorched earth temper tantrum.