Yes. If a similar scale thing were to happen in the U.S. banking system, 1% would be 160 billion dollars, not 16.

I'm amazed that otherwise intelligence people really believe this is a better system than fiat currencies + banks.

I feel like we shouldn't be expressed in dollars, but in percentage of total funds. In this case 16 million is about 1% of the total. This would be a $16 billion case if the US banking system was the target and used this technology.