I find it weird to jump to this from the scarce information we have.

"Someone did a CoC violation" is just a way for an org to say "someone was an asshole to such an extent it was driving other people away or getting us into legal trouble", with the manner of assholery defined in the CoC. 9/10 times it is nothing sinister.

Of course right now we just don't know what happened.

Overall I think Code of Conducts are a net negative. Alleged violations of them seem to be used to lend credibility to actions that otherwise would be hard(er) to justify.