Dealing with the same bank as your receiver is easier; both accounts will be restricted while the investigation is ongoing; however, if it is a third-party bank, the process for getting that money will take some time because, after reporting to the bank fraud department, you will still need to file a police investigation report.
Everything depends on you and how determined you're to solve your problem as in this country money solves everything, you can do all this within a week and get the account restricted. Already reporting the case as a crypto transactions puts the account on a high alert. Banks don't joke with crypto reported transactions because if they do CBN will be on their neck and can revolve their license or a big fine. If you want the punish the scammers what's stops you from going the extra miles and following up the report bumper yo bumper unti the user gets apprehended.
The best solution is to settle it amicably, even if it means receiving some of your money back.
When he isn't a scammer this is the step to follow but when dealing with a scammer you don't settle things amicably or you'll be taken as the fool and get stepped on. Scammers need to be pushed to the wall, when they see that you don't mind going extra miles they are they ones that'll succumb. Worst case scenario you lose the money but he gets punished for trying to reap you but in this case, the merchant wasn't a scammer but was only trying to be cautious.