How can someone hold that kind of money in a centralised exchange? Not to be harsh, but the person typically got what he deserved. Coinbase is one of the exchanges that can easily freeze users funds once they suspect anything or the 3-letter government agencies ask them to do it.
It is devastating for him yes but what is he even doing with that amount of money in an exchange? Is he storing them there or is he planning to move it? Is he planning to use to buy it?
Whatever it is, it does seem foolish to hold that much amount of money in one place let alone a centralized one. All the time we warn people the risks of centralized systems and they only learn once it finally happens to them.