As a member of old dev team I can say that I never heard that someone "hacked MEOW" and that somehow much more coins are generated, that could happen later.
At the time before CoinedUP you could mine several millions per day with one 280X card. Price was very high and we, inside team had a lot of coins but newer sold any single one.
Me alone had about 28 millions back then. After that cryptsy story began, later on we found out that cryptsy was adding lot of coins just for the reason to get out from the debts, hoping that there will be just one who will make success. Problem with MEOW was also because competition, trends are changing and now you can't see much new coins. Back then you had more than 100 each month. To this day only few survived. But still with our work we made to RT and Keiser report. Hm, to this day I believe that major dump and killing the project began with the person from RT
People involved in MEOW had high hopes with Cryptsy but since kittehcoin was under constant 51% attack we had lot of problems. Later on KGW was implemented but that didn't bring much success, something was wrong. Someone was testing first scrypt asics on MEOW constantly and he was trying everything to kill the project. Some team members sold their coins frustrated because those attacks. On the other hand Dano was the person who wasn't creator of this coin and I felt that he wanted to build something on its own. He was kinda tired from fixing what original developer did in the code. Syscoin was born and I was the only one from original MEOW team who didn't participated in it. I was hoping that some day I will back to this project but I never had the time for that, not even now. Still holding about 580 millions of MEOW and my friends who were involved in mining back then have more than two times that much. Honest thing to do right now is to do swap with timeframe. Those who miss it, don't get anything. If someone hacked the coin, he is long gone and isn't watching any of this. Good luck.