Yes.
A bank can cancel your debit card because it believes there may be a security problem and later deny your claim for the disputed transactions.
Those can be two different decisions.
The first question may essentially be:
“Should we allow this card to keep working?”
The second is:
“Do we believe these particular transactions were unauthorized?”
So replacing your card does not necessarily mean the bank has already agreed that every transaction you disputed was fraud.
But there is another side to that.
The fact that the bank can make those decisions separately does not mean its fraud decision was correct.
If you insist that you did not make the transactions and the bank says you did, you are entitled to wonder what evidence supports that conclusion.
That is why I would not treat the replacement card as some magic fact that wins your case. I would treat it as part of the timeline that needs to be understood.
For the full explanation:
https://www.cardozalawcorp.com/blog/my-bank-replaced-my-card-why-was-my-claim-denied-.cfm
