Part of an earlier comment
this is what it says in their 2.1/2.2 of their tos:
2.1. How can my account be suspended or terminated? (If you break the rules, Demacian Justice will be visited upon your account!)
Three different people/entities can suspend or terminate your account:
2.1.1. You. You may terminate or suspend your account at any time by contacting us at [email protected].
2.1.2. Us.We may terminate or suspend your account if we determine, in our sole discretion, that:
(a) you have violated any part of this Agreement;
(b) we have stopped offering the Riot Services in your region; or
(c) doing so would be in the best interests of our community, the Riot Services, or the rights of a third party.
We may make such determinations, among other ways, by using automated systems and machine learning tools.
And to get around you claiming you bought it and therefore have protection they added this in 4.3
3.1. What can I do with the Riot Services? (You can enjoy the Riot Services for your own, personal, non-commercial use.)
We grant you a limited, non-exclusive, non-transferable, revocable license to use and enjoy the Riot Services for your individual, non-commercial, entertainment purposes only and expressly conditioned upon your compliance with the terms of this Agreement. Unless otherwise expressly authorized by us in a signed writing, you may not sell, copy, exchange, loan, reverse engineer, decompile, derive source code from, translate, lease, grant a security interest in, transfer, publish, assign or otherwise distribute any of the Riot Services or any of Riot Games’ intellectual property, including any computer code associated therewith.
3.2. Can I do stuff with Riot’s intellectual property? (We reserve all the rights to our IP, but do allow for some personal, non-commercial uses like fan art.)
We (and our licensors) own and reserve all rights and title in and to the Riot Services, and all data and content included therein, including, user accounts, computer code, titles, objects, artifacts, characters, character names, chat logs, Game recordings and broadcasts, locations, location names, stories, dialog, catch phrases, artwork, graphics, structural or landscape designs, animations, sounds, musical compositions and recordings, Riot Points (defined below), Blue Essence (defined below), Hextech Items (defined below), Virtual Goods (defined below), audio-visual effects, character likenesses, methods of operation and gameplay (collectively, “Game Content”). You can’t create any work of authorship based on the Game Content or Riot Services except as expressly permitted by us. For more info about what uses we currently permit, please read our Legal Jibber Jabber policy.
You also agree that unless we grant you a license, in a signed written contract, you may never use any of our trademarks, service marks, trade names, logos, domain names, taglines, or trade dress. Any reproduction, redistribution, or modification of the Riot Services, or use of the Riot Services not in accordance with this Agreement, is expressly prohibited and may result in severe civil and/or criminal penalties.
Basically this states that you pay for the right to use the skins. They can revoke it whenever they want and you agree to that. One could argue that the Terms of Service are not a legally binding contract, but you never payed for the right for software to use and a particularly clever lawyer could probably argue that you still have those skins and only your access to the free game part is blocked.
Legally seen, you have not that strong of a case and morally see you could argue about it being wrong, but that varies from person to person.
Will you get your money back? no, probably not.