Okay that is a big deal. If they were able to claim 228M BTS then:
1) They are almost certainly not running a fractional reserve. While they had more than this before, they lost a lot to poloniex, so 228M is actually more than I would have expected them to have left.
2) They are probably not too far away from reopening withdrawal/deposit in 2.0.
Looks like we should have btc38 back up fairly soon.
As soon as this happens we will be able to arbitrage between the two. And since btc38 price has been WAY higher than polo, what we should see is an equalization of the two, with btc38 dropping some but polo recovering.