Your account won't be suspended. Buyers can cancel a purchase with the seller's agreement without harming their account.
If, as you state, you didn't want the item any more, the seller has not done anything wrong.
"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Søren Kierkegaard, Danish philosopher (1813 - 1855)