I find this situation disturbing. If players had been exploiting a bug, knew it was wrong, and continued to profit from it. Ban them. Because of the actions of what, perhaps 10-20 players, hundreds of players are affected? I have spent months collecting, buying, hunting, farming, weapon level deeds. Ask any player who knows me, all I do is champ spawns, that is my pleasure in the game. I do these spawns in hopes of finding a weapon lvl deed spawn, or at the least, collect silver to purchase the deeds from the stones. I have had months worth of game time removed from me (all of my deeds deleted) and feel slighted.
I do not care to know who the culprits where, but they should be banned. I also feel there could have been another way of dealing with the deeds, removing all deeds from game seems like a knee jerk reaction, and has punished hundreds of players. Additionally, the price of deeds is not going to be sustainable, 10 ED per deed? I understand that has been the price to purchase from staff, but when deeds where traded for 150k-200k (given the token to gold ratio) they were difficult enough to obtain. At current cost, the rate will be more like 2m per deed...200k-2m, THAT seems to me to be quite a hit on the already fragile economy.
In closing: Cheating in game is similar to cheating on your significant other, if you do it once...odds are, you're going to do it again. Ban them.