I did something similar with someone who was using my site’s donation form to test huge batches of credit cards numbers. I would see hundreds of attempted (and mostly declined) $1 donations start pouring in, and I’d block the IP. A little while later it would restart from another IP. When it became clear they were not giving up easily, I changed tack: instead of blocking them, I would return random success/failure messages at the same rate they were seeing success on previous attempts. I didn’t really try to charge those cards, of course.

I like how this kind of response is very difficult for them to detect when I turn it on, and as a bonus, it pollutes their data. They stopped trying a few days after that.