I'm in agreement with mtwiggz on this.
Most other games will release some kind of official statement after something like this has happened to update the community on what happened, what actions were taken. This isn't the first exploit of this kind I know about however this is the first one which has had this much interest from the community.
I am a little concerned with players only receiving 72 hour bans if there were no material/gold removals to go along with that. As this is only a slap on the wrist and won't deter anyone from exploiting again, especially if players were able to hold onto the large gains they made from it.
I really want to see ZOS take this area of the game (rules enforcement/security) more seriously because unlike lag and balance this is something entirely in their control to enforce and fix.
Sadly mtwiggz this isn't even anything new.
This is the first exploit since the item duplication which has had this much community attention, but not the first once since.
I am not sure how much I am allowed to say regarding matters without ZOS editing to remove information. There was however an exploit about six to eight months ago where you could force a boss monster into a wall and it would continue to spawn its trash adds over and over. I know of multiple players who abused this extensively and never received any kind of penalty. Some of them are still active in game with stacks of 200-400 wax in their banks.
Sadly ZOS has treated most prior exploits as normal bugs and allowed people to abuse them until fixed without any penalties. I think it's only because this one caught so much attention on the forums and other mediums that they took quick and public actions.
I really wish ZOS would be more open with us about this. We don't for example even know who their security/GM team are or what kind of powers they hold. It could be possible their GM team is also outsourced and not directly ZOS employees at the same office.
My only real experience in matters comes from EVE Online and CCP Games which is a much smaller company which doesn't answer to a parent company. They have an entire division within the company focused on security and rule enforcement, with their GM staff (mostly) all working at the same offices.