I don't usually lurk around the LTT forums, but damn. Getting hacked does suck. I'm hoping YouTube restores the channel (and any other sub-channels)
SomeOrinaryGamers does mention that YouTube doesn't have good safeguards regarding these type of events. He does mention that YouTube should implement a "lockdown mode" instead of displaying that the account was terminated as it can cause confusion.
I can already feel the LTT forum getting "DDoSed" by legitimate user traffic trying to figure out what's going on.
@Jarsky is correct. YouTube does not instantly wipe channels in case if the terminations are falsely issued. YouTube will hold on to the data for a certain amount of time (I don't know how long, specifically). Even then, filing an appeal to YouTube is like talking to a brick wall in most cases.
Here's hope for the LTT team to recover the account.