My site disappeared from Google

Hi,

i have domain was ranked well in google but last year it has penalize from Google because over optimize anchor txt

i tried to bring it back but no success , so i changed the domain from
".com" to ".co" since 2 months ago and made 302 soft redirect

also , i made a lot of ON-Page optimization like mobile friendly and increase internal pages

i hired someone to make keyword research and start with low and medium keywords and everything works perfect and my site start ranked so fast and appear in 1st pages for long tail keywords ,etc



Suddenly since yesterday , all my keywords are gone even long tail
same with my site , it doesn't appear at all

so, i start checking things

* site:name.co (my site displayed well in all 1st page with 120k indexed pages)
* site:inner page url(my site displayed well in 1st page)
* there is no any warning or messages in webmaster tools
no manual action or security issues
* checked ahrefs.com page , and there is no lost in back link

Notices:-

* My site niche is for movies download
* when i search for very long tail keyword, only my G+1 page appear
but nothing for my site
* I always add new and fresh unique content every 2hrs
* i found a lot of new sites take my place in first page
although these site doesn't have any SEO work done or comes from dead
* Google still sending traffic but it cuts off by 40%

so, what is the issue ?
what is my mistakes ?

i only buy SEO backlinks from high PR pages (pr2-7) from here in warrior hire section and always deverse my anchor txt with naked url, click here, site , etc
and it works well for me

i don't think its Google dance , because dancing is change in rank position not completely disappear

P.S.: i keep add target keywords in tags in my posts for examples

direct download movies, hd movies free download, etc

is this bad, is this consider as over optimize ?

how to identify the issue and fix it ASAP ?
should i stop seo on this domain too and start with new one again
or its too early to decide ?

Your help and opinion is really appreciated
Thanks