Nobody will be banned anymore just yet, but there are most likely going to be more ban waves. If You didn't get banned during this one, You are probably okay for next couple of months, the last ban wave was somewhere at end of january / beggining of february this year, sorry if I'm incorrect.
So Yeah, looks like Riot is taking this way more serious than ever, bans till the year 2400 or rather call it permabans instead of just removing the rewards and disabling the RAF system on Your account.
Looks really scary, I don't know if guardians service is 100% safe anymore, but the same goes for the other services. Still, we're in black market, so there is no guarantee that You won't be punished for Your purchases.
People wanting compensations or refunds are either really stupid, or just really angry.
Contact Riot and play a confused well mannered guy, who likes to spend a lot on online games and You'll get Your ban lifted, as I've already said for like 5 times.
So yes, there still exists a chance You will get suspended and Your rewards will get removed, even tho You have survived this ban wave.