The position of cryptsy being a reputable exchange is long gone.
But going GOX...At this moment really anything can happen
They close shop and give users a way to wtihdraw their money in a period of 10 years or
They survive this nightmare chapter and become more solvent again..
Those two words which I've bolded...they are no longer this. And because they've killed their reputation and the trust their customers had in them, they're not going to recover from this I don't think. I can't claim to know what their problems are/were, but since they haven't effectively communicated with anyone about what's going on, they've GOXED already in my opinion. The situation just hasn't unfolded completely yet, but it will, soon.
It's unfortunate that this happened, as it just diminishes trust in exchanges that bitcoin users should be able to have. Can you magine if online brokerage houses like Etrade and Scottrade did stuff like Cryptsy and Gox did?