Keep a few things in mind. Not everyone accused is guilty but it is in the interests of society to impose limitations, checks and balances on a case by case basis. We could say this is unfair to one accused individual but at the same time society as a whole and that includes the one individual, benefits from diligence in limiting potentially harmful activites of those prone to commit crimes.
To some extent I agree that compensation isn't always approprate, you can't put a dollar figure on the disruption of one's life or stress, but at the same time many people don't even make bail, having far more restrictions pre-trial and only lack of internet and restrictions on living arrangements and schedule.
It would be insane to think a restriction from others accessing the internet on his behalf means his lawyer, acting as one. A little common sense please?
We could say "oh no it's terrible if the fellow is innocent", but what are we to do? Do we not even arrest anyone (since it would be such an imposition to them) because we haven't yet proven them guilty in a court of law? That's putting the cart before the horse, in order to exact justice there has to be procedures that include detaining, questioning, limitation of rights between the period of suspicion and declaration of innocence and guilt. Be glad people are allowed bail at all, to some extent that alone is contrary to the best interests of society, that your freedom and chances in court depend upon how rich you are or who you know?
I'm all for a speedy resolution to this but the answer is to choose between more taxes to support a larger (presumably faster) justice system, or to take your chances and try to stay out of trouble (which if suspicions are correct, even if this fellow isn't /THE/ Topiary hacker he seems to have been made a target by trolling against other people. Make enemies and it might come back to bite you some day.