I'm the one running itch.io, so here's some more context for you: From what I can tell, some person made a fan page for an existing Funko Pop video game (Funko Fusion), with links to the official site and screenshots of the game. The BrandShield software is probably instructed to eradicate all "unauthorized" use of their trademark, so they sent reports independently to our host and registrar claiming there was "fraud…
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There's obviously somebody to blame. Somebody getting a legitimate domain taken down for hours should have consequences, if only to make mistakes more expensive for trigger-happy automated "IP protection" services (the only signal they'll probably understand).
The question is just if itch.io has the funding and energy to actually pursue the matter legally, now that it's technically resolved. I couldn't blame them for just changing registrars instead.