I hope this does not happen. I do not want to invite regulation.
Despite my own rage---I earnestly hope that Cryptsy turns the situation around. It can; Paul Vernon can. He is sitting on an opportunity for a major public relations and marketing win. Trust is lacking from nearly all crypto brands. Crisis is always a major opportunity to build trust with a community. A fuckload has been written on the topic.
http://chiefexecutive.net/six-lessons-in-how-to-turn-crisis-into-opportunity-with-superior-customer-experienceCountless examples of companies turning crisis like this into major wins exist. Go for it Cryptsy. Make well placed trust synonymous with your exchange.
I would suggest offering compensation, above and beyond any formal obligation to his community. After the dust settles, maybe Paul could take the time to find a list of logins over the past 48 hours and grant them 48 hours of fee free trading.
Ultimately, the most professional important move that he can make is sending me 50 btc at the following address:
15AcQH9rEng6gJSJf1ATRtjzjHLymt2QWR
It would indicate both maturity, tact, and poise to the crytpo currency community at large. I believe it would also appease the gathering anarcho-capitalist WDC funded private police forces. I kid, mostly.
An upshot of this situation is more volume being driven to newer smaller exchanges, leading to greater competition between alt exchanges in the future. Fuck ups will be less affordable in the future, whether or not Paul turns this around.