> I honestly don't know what the solution is.
well, for starters, if you're using cloudflare to block otherwise benign traffic, just because you're worried about some made... up....
> On the other hand, without Cloudflare I'd be seeing thousands of junk requests and hacking attempts everyday, people attempting credit card fraud, etc.
well damn, if you're using it because otherwise you'd be exposing your users to active credit card fraud... I guess the original suggestion to only ban traffic once you find it to be abusive, and then only by subnet, doesn't really apply for you.
I wanna suggest using this as an excuse to learn how not to be a twat (the direction cf is moving towards more and more), where for most sites 20% of the work will get you 80% of the results... but dealing with cc fraud, you're adversaries are already on the more advanced side, and that becomes a lot harder to prevent... rather than catch and stop after the fact.
Balancing the pervasive fear mongering with sensible rules is hard. Not because it's actually hard, but because that's the point of the FUD. To create the perception of a problem where there isn't one. With a few exceptions, a WAF doesn't provide meaningful benefits. It only serves to lower the number of log entries, it rarely ever reduces the actual risk.