I had somebody do this to me and I went from #1 to page nada... After a few days I did a backlink check and found a bunch of shit backlinks that basically made it look like I spammed myself using Xumer or some shit...
Instead of crying I just kept promoting the site using good linking structures and getting people to link to it from social media and what not...
In 2 months it went back to #1 and hasn't moved in a year.
I highly suspect that #2 did it to me since they have none of these shit links, but #3, 4,5,6,7 all do too... While this person spend their budget trying to fuck us all over, I spent mine doing what you are supposed to do... and prevailed...
There are many more cases though where my site never recovered...
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