In short, someone found an exploit to duplicate flux. They crafted it into a bunch of megaflux tanks and put them in the community chest. Therefore, people were getting loads of flux for free and just bought all the good stuff off the market (i.e. Ganda). This hotfix essentially made that problem null and void (aside from the damage that has already been done, of course).
Megaflux tanks that still remain in the system have been temp. disabled until the devs can get rid of all the ones that aren't supposed to, well, exist.
The older chaos chests and other chests that could be bought were pretty much bought out. So, to prevent ppl from getting too many free items, they've been disabled.
Ppl involved are getting banned, however some are getting wrongly banned because the system is simply looking for people who had a large gain of flux over that period of time. Those players will (hopefully) be unbanned after.
There's your summary. Sorry for the ramble.