It sounds like the basis for you saying there is unethical behavior is that HostFat is using a referral link in his signature for an exchange you believe is untrustworthy.
I don't think this reaches the point of it being necessary to take forum action.
As a moderator , he/she should distance from all the services that does not look fair.
Theymos removed Benson Samuel when hack incident happened on the exchange in which Benson was CEO though there are no evidences/allegations against Benson.
wearing an affiliate link in his signature is different from running an exchange that is going to impose losses to their customers because what was ultimately his mistake.