Steam has not been hacked. It was indeed a severe cache error that caused most accounts to be terminated. Although steam has not been hacked, some people have been trading unfair and hacked items that give them control of your steam account. They also have fake websites.
It was a major error within their caching system and databases. Luckily I wasn't effected - but to those who were, I hope you can recover your account quickly and painlessly.
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