Turbo seized up, smokes white

[Fredrikkk]

So, I was driving and giving it a little and then suddenly at like 5,000 rpms I heard a loud pop and a a puff of black smoke. Afterwards there was white smoke when I was just testing it out.

When it idled there was plenty of white smoke. I have checked the turbo itself and the nut that holds the compressor wheel came off. The turbine itself is just seized luckily.

Now, my questions are:

1. Is it safe to drive around like it is now? I will turn down the fuel and boost completely tomorrow.

2. Is the white smoke oil? Or could it be coolant? Since my turbo is watercooled and all...

3. Am I completely screwed? I feel so bad for my car... 

[CRSMP5]

gotta fix... think its pumping oil into exhaust..

[vanagonturbo]

Turbo broken. Do not drive. Replace turbo.

[745 turbogreasel]

1. Is it safe to drive around like it is now? I will turn down the fuel and boost completely tomorrow.
I'd be worried about compressor wheel shrapnel, esp if not intercooled. If you fished all the pats out, you are fine.

2. Is the white smoke oil? Or could it be coolant? Since my turbo is watercooled and all...
Plug the oil feed, and see if it goes away.

3. Am I completely screwed? I feel so bad for my car... 
naw, but it sure wold be nice if it was a TDI so you could inspect a piston top without removing the head.

Bummer

[Fredrikkk]

Alright, judging by your guys' answers, I'll be taking off the turbo today and hopefully it won't be that bad. I'll be replacing it with a K24

[Fredrikkk]

Just an update: I got the K24 on in one day. Didn't have the right tools at first, bit after getting the right tools, the job was a breeze. The oil return leaked like crazy and covered the bottom and back of my car. Now thought I got a better hose and some high temp gasket sealer; it did the trick