I played in a rapid tournament recently where one of my opponents cheated. He's since been banned and I was compensated 50 rating points. However, my rating was 1948 before he beat me and is now only 1875. Where are the rest of the points that he stole? I assume there is a rating compensation cap of 50 points, but why? I don't really care that much about my rating but it just seems unfair.
Hmm. It seems possible you have something. Since you just started your adjustments are very high. Perhaps they gave the 50 points to you but forgot to reverse the several hundred points they had previously taken.
I would write to support@chess.com and ask for an explanation.

I played in a rapid tournament recently where one of my opponents cheated. He's since been banned and I was compensated 50 rating points. However, my rating was 1948 before he beat me and is now only 1875. Where are the rest of the points that he stole? I assume there is a rating compensation cap of 50 points, but why? I don't really care that much about my rating but it just seems unfair.