Every store has to deal with fraudulent orders at some point. If you are accepting payment via PayPal, you are somewhat protected. Thanks to the Woo Manage Fraud Orders plugin, you can exert more control on who can order on your site. It lets you blacklist people based on their phone, email, or IP address.
This plugin tracks the number of order attempts for payment gateways like credit card and blacklists customers automatically if their # of fraudulent attempts exceeds the threshold you have set in the back-end.
Woo Manage Fraud Orders lets you customize message, # of allowed fraud attempts and blacklisted phones/emails/IP addresses from the back-end. This is a free plugin.