I don't know, $1.1M is a lot of money. If someone stole a million dollars from my company, I don't know if I'd be rushing to reimburse it with personal funds (assuming I even could), however bad I felt for the users.
That said, if I recall correctly, one case where the corporate veil can potentially be pierced in a lawsuit is negligence. IANAL, but maybe users would have a legitimate case against personal funds, assuming keeping a large percentage of deposits online was found to be negligent. It'd obviously be an incredibly complicated and expensive class action suit if it were to happen though. Also it would probably mean trying to bankrupt a guy who just got hacked and lost his company...
And there you have it... if you were registered with a regulator you would have insurance and have had put up a multimillion dollar bond in some cases for a scenario were YOU screw up.
That said, if I recall correctly, one case where the corporate veil can potentially be pierced in a lawsuit is negligence. IANAL, but maybe users would have a legitimate case against personal funds, assuming keeping a large percentage of deposits online was found to be negligent. It'd obviously be an incredibly complicated and expensive class action suit if it were to happen though. Also it would probably mean trying to bankrupt a guy who just got hacked and lost his company...