I'd love to, no worries! If you arrange a ticket for my wife & me, I'll get seals & some other spares & come & fix it!
In my case the sudden loss of compression was clear: a broken ring had gauged a ditch in the bore above the exhaust port. While the barrel is at the workshop for welding/re-bore/nicasil plating, I had a closer look at the piston:

- Key to all doom.jpg (16.82 KiB) Viewed 770 times
This is the piston seen from the intake side. Marked are the areas with a key to lock the rings in their place: it's a pin in the piston, while the rings have a recess, which would fall over it. That would prevent the ring from rotating. The idea is that the biggest hole in the cylinder wall is the exhaust port, and you want the opening of the ring over an area without holes, so that both sides remain supported at all times. In a 4-stroke this is not required, as there are no holes in the cylinder wall.
But in a 2-stroke there are, and it is vital to keep the rings oriented as per design. See that the top pin is very deep into the piston. This will have allowed that ring to rotate - and catch with an open end into the exhaust port!
As evidenced by the shards I recovered from the exhaust:

- Rings.jpg (25.69 KiB) Viewed 770 times
On the left the top ring, with the shards somewhat straightened, on the right the 2nd ring, which I managed to get out after some surgery. Looks like most of it is there (rather than in the crankcase), maybe some other small bits left through the exhaust. But also important: you can see one end of the top ring broken off. That should never have been near the exhaust port.
How is that possible? Well, there are some signs of detonation (on the piston, none on the head or cylinder), and that might have contributed, but primarily I think the piston manufacturer (Pro-X) must have drilled the hole for that pin too deep. And over time (after many heating up & cooling down cycles - different materials have different expansion coefficients) the pin went deeper & deeper, till it was deep enough to allow the ring to rotate. My fault might be that I used the piston too long, but never again will I buy a Pro-X. That is actually a Japanese piston, and the alloy seems fine & wear-wise it looks still quite acceptable. But that hole was too deep.
I'm mentioning this on an MZ forum, because this might be relevant for MZ 2-strokes too. The locking pins in MZ pistons are similar (but not identical), and surely it'll be something I'll look for in future.
As for the OP's issue, I am not entirely certain of the cause. Yes, it can be seals (and it probably is), but a dramatic failure of the seals is not so common, IMO. But if you don't have any compression, and if piston & bore are fine, there's no alternative to taking the engine apart and looking for the cause. That probably sounds daunting, if you have no experience with anything like that, but there are good manuals & videos on youtube. Or maybe there's a friend with suitable experience? I expect there is little urgency or stress of time (other than that summer is coming!). Having it done in a workshop will become quite expensive, as it's a lot of man-hours, even though parts are cheap. And there always is the sell as-is option, though that too will cost money.