This happened to me. I was going to try it and when I saw that the option wasn't what I expected, I intended to close it, but I guess either I didn't or it's buggy because it's enabled now and there's no encryption key, so no way to login. Then the server logged everyoner out cause of the hack. This was on lemmy.world, btw, I have an account on kbin too.
I sent an email, but no word yet obviously. I'm sure they're busy.
This helped me, thanks!