Online platforms have banned ("deplatformed") influencers, communities, and even entire websites to reduce content deemed harmful. Deplatformed users often migrate to alternative platforms, which raises concerns about the effectiveness of deplatforming. Here, we study the deplatforming of Parler, a fringe social media platform, between 2021 January 11 and 2021 February 25, in the aftermath of the US Capitol riot. Using two large panels that capture longitudinal user-level activity across mainstream and fringe social media content (N = 112, 705, adjusted to be representative of US desktop and mobile users), we find that other fringe social media, such as Gab and Rumble, prospered after Parler's deplatforming. Further, the overall activity on fringe social media increased while Parler was offline. Using a difference-in-differences analysis (N = 996), we then identify the causal effect of deplatforming on active Parler users, finding that deplatforming increased the probability of daily activity across other fringe social media in early 2021 by 10.9 percentage points (pp) (95% CI [5.9 pp, 15.9 pp]) on desktop devices, and by 15.9 pp (95% CI [10.2 pp, 21.7 pp]) on mobile devices, without decreasing activity on fringe social media in general (including Parler). Our results indicate that the isolated deplatforming of a major fringe platform was ineffective at reducing overall user activity on fringe social media.