Preheat oven to 325 degrees F. In a large bowl, toss chunks of bread with 1 tablespoon of olive oil, season with salt and pepper. Arrange on a baking pan and bake for 5 minutes or so, until lightly toasted; turn once if needed. You want the bread a little crisp on the outside yet still a bit chewy on the inside. When done, set aside to cool.
Once the bread is cool return it to a large bowl and add the tomato, onion, sweet peppers, remaining olive oil and season with salt and pepper. Gently fold all ingredients until evenly coated with oil.
Spoon an even amount of panzanella in large shallow bowls and top each with a heap of chilled king crab. Drizzle with chili oil and finish with a sprinkle of black sesame seeds.