It feels like there are tons of people arguing with very minimal knowledge or experience in blindsolving.
Getting 37 and 9 minute 5bld attempts on the same round is mainly impossible within normal circumstances (as
@porkynator stated). Going safe is nonsense as an explanation since there's no way you would spend extra 20 minutes on memo, when you should be able to memo the whole cube multiple times in that time. There's no reason to do that intentionally either.
Given only that, I'd say it's most probable that the competitor cheated in some way. Add in the fact that he achieved similar very suspicious results in 3/4bld with the same judge, it's almost certain that something hasn't been right.
According to wdc, fabio reconstructed the 3bld solve on the spot, said he was sure it was not a misscramble but suddenly, as a video evidence was presented, he changed the story (video showed the state wasn't matching the scramble, and additionally, his execution was way slower than what it should've been). Wdc has also stated that they have been asking for a video of fabio's bigbld execution methods, which he's failed to provide (seems like he's definitely trying to hide the truth (if the wca consulted me about me about the legitness of my results with false assumptions, I'd definitely do everything I could to prevent any suspicions).
Definitely seems like a right decision to me.
Additionally, Fabio has spent very much time with writing replys to all discussions about the case, which contradicts his statement about being busy with other things. Maybe his goal is to win the community by his side rather than actually providing the evidence wdc asks, since he actually is incapable of the results he's fighting for.