Will this double the withdrawal time?

At least it's better than no withdrawals. But i doubt they have the bitcoins to cover the current balances of their customers at this point in time. They're probably going to be doing arbitrage from their exchange to the others for a couple weeks so as to make back the money that the hacker stole. All under the disguise of 'waiting for a technical update'. Once they have made enough coins to cover their customers balances they'll probably implement a fix like this.