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It looks like a Phalaenopsis. They are commonly sold in sphagnum moss. It is possible to grow them well in this medium, but it requires attention to detail.
Most likely the roots rotted from being trapped in wet moss. The plant probably has enough life in it to grow more roots and survive.
There is an excellent sticky thread here on Orchid Board that teaches how to grow Phals. From the left yellow menu select Forums, then Beginners. Near the top look for The Phal abuse ends here. You have been given good advice above, but I suggest you peruse the sticky thread before doing anything.
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