The management made pretty short statement that players didn't follow the terms and conditions in their agreements and just left the team. It's obvious that some players decided to make a new team which will be announced soon.
Ladislav 'GuardiaN' Kovacs twittered that his future is uknown but he is fully motivated and open for new offers.
Lately, Sergey 'FoX' Stolyarov in his twitter stated that he didn't knew Virtus.pro has closed CS GO division. Based on this we can make a conlcusion that some players have left the team and managers decided to shut down the entire divison.