As far as I know, this has happened several times to CPG already, i.e., being down for a long time -- not just hiccups, or scheduled maintenance.
That's wrong. The site has been down some times because our webhost shut it down due to resources consumption (a lot of traffic). It has never been down due to hacks. Don't post such assumptions if you have no idea what you're talking about

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Are there precautions that could be taken to minimize this?
This is an announcement thread! It's not a thread where you can request help. The reasons for the hack has been explained in my initial posting already: there used to be a flaw in the kernel of the operating system of the server that has been exploited. This is not related to an application on the webspace being hacked, but a hack on an entirely different level. There are many sites on the www that are dedicated to server setup, where you can ask such questions. Coppermine is not among those sites. Don't expect an explanation here what a kernel is or how the attack was carried out.
I remind everyone to stay
on topic, especially in this thread. Don't force us to lock down every thread...
Possible precautions that we
can recommend: keep your apps up-to-date. Perform backups frequently. That's all the advice that I'm ready to give here. Now back to the topic please.
Joachim