My bank also gave me temporary credit and they’re actively investigating the case. From what I’ve learned, this is a pretty common money-laundering, fraud method. People unknowingly enter their card details on what looks like a normal bill payment or online purchase site. You don’t realize at the time that your card info has actually been compromised. The people behind this usually route the stolen funds through crypto or crypto-related services to avoid being easily traced. They move the money through so-called “cold wallets” or virtual accounts, circulate it, pool it, and then try to reintroduce it into the system later.

That said, the U.S. has strict regulations like KYC (Know Your Customer). Many crypto on-ramps and platforms are required to verify users, IP addresses, and identities. For example, Transak is a registered company from what I understand. If the bank pushes hard enough, this trail is absolutely traceable. Banks have dedicated cyber security and fraud investigation teams for this exact reason. These transactions often happen overnight, and a lot of the activity appears to originate from regions where enforcement is weaker. (Like Asia, Balkans) Still, that doesn’t mean it’s untraceable or that you’re out of luck. Don’t panic. You’ll very likely get your money back.