Crypto Exchange Dispute: customer filed fraudulent chargeback

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Illustrative scenario prepared by my practice.
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Hypothetical question

EDIT: added more context below. Has anyone dealt with something like this? I'm not sure what my options are tbh.

customer filed fraudulent chargeback. I've been dealing with this for about 8 months now and teh situation isn't improving.

The amount being held/disputed is approximately $46,015. I have tried contacting customer support 7 times with no resolution.

Am I overthinking this or is this a real legal issue worth pursuing?