I know I can quit, it was an important phone call and I couldn't afford to miss it so I didn't get the opportunity. Of course you cant pause the whole game, but you could pause a players participation in it, make them invisible, park them somewhere, a dev could come up with several workable ideas. It isn't the first time Ive lost a ship because of some non obvious thing brutally slaying me. Just peeved that's all, 2 hours worth grinding wiped out
I understand your frustration. If something like that happens it's really really annoying. 10mil down the drain is rather harsh. If it is any consolation: when I got blasted by a station for no reason I could determine, I lost only 250.000 Credits, but since I only had an Eagle then, this meant first that I was broke, and about 6 hours behind.
Don't know how it was for you, but the fact that the game has no pause is something that came to me early. I learned, when supercruising my Sidewinder towards my destination, hitting ESC, and when I came back I was about 100.000Ls from where I wanted to go. That was on the first or second day.
Pausing single players like you described would be technically possible of course, but would make cheating very easy. Just pause when you are being attacked, unpause shoot, pause again ... you get the picture.
The good thing for the next important phone call is: hitting "Exit to Main Menu" takes only marginally longer than just hitting ESC, so you won't miss the call either.
Sorry for your loss though. Let the game be for a day or too until you had time to cool down.