Been there too...
...but this looks like a seized piston?
I do believe that some part or other came to a sudden stop and the rest of the mechanism just couldn't keep up.
After that little incident, I sold the bike to a fellow who removed the remains of the motor and installed a Zero electric drive system and batteries. He ran the bike at a race at Laguna Seca a couple of years ago. It was nice to see the chassis back in use again.