First, prove to me that GAW owns Paycoin. Tell me how much, and where it is stored and why you believe it belongs to them, and then explain why taking property from a corporation is different than taking it from an individual. Secondly, explain why you think it is ok to take property away from either GAW or Josh Garza. What is the EXACT criteria by which you conclude that it is fair, just and legal, to take property from someone else. You either respect property rights or you don't.
I don't think anyone is proposing taking property away from anyone. What is being proposed is a fork of the coin which is identical other than that certain coins don't exist in the fork; the current coin (XPY) continues to exist, and a new coin (XPY2) is created which is functionally identical, only without the GAW coins. Is that theft? I don't see how.
As an existing holder of N XPY, I would also have N XPY2 (unless presumably I was GAW). I could choose to trade my XPY2 for "real" XPY, or vice versa, depending on which of the two I wanted to hold. They would both be listed on exchanges, and their prices would move independently of each other.
If there's general agreement that the fork is a good idea people would sell their XPY, pushing the price towards 0, while buying more XPY2, increasing the price. GAW still have their millions of XPY, nothing has been stolen, but the free market has set a more appropriate price for their out-of-thin-air gains and decided that they value a coin without the pre-mine (or whatever it is - I've not been paying attention) more highly.
This.
XPY2 would cut at least 50% of the coin and all hyperinflation.
EDIT: Cut all prime controllers and their coins + any remaining premine which is not in the hands of customers.