I have reported them as well and I am working with my bank to get the money back. Could take up to 90 days. By the way, The add showed up again as another store. Same add, same promotion - different site. I reported the add and it went away, but be careful.
Is there anything Shopify does to discourage this? It seems they can just keep pulling the same scam over and over again. Makes me distrust Shopify - this was my first purchase from them and it was not a good experience.