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| Domain Name Discussion The place for general domain name related discussions. |
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| | THREAD STARTER #1 (permalink) |
| NameTopic.com Join Date: Sep 2008 Location: Prague, Czech Republic
Posts: 651
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | 'halvarez' at Snapnames auctions uncovered Ooer - this one's going to run for a while... ![]() From DomainNameNews: SnapNames User Name “Halvarez” Was Employee Bidding on Domain Names There's also a FAQ page at Snapnames
Last edited by prague7; 11-04-2009 at 11:18 AM.
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| | #3 (permalink) |
| NamePros Member Join Date: Oct 2009
Posts: 101
![]() | That's good damage control.. took them 4 years but compensation seems fair + they take the iniative of finding the scammed customers and paying the rebates.. no need for bidders to go thru the list of impacted auctions and filing an online form demanding a rebate etc... + try to find 5.22% in 2009 ! |
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| | #6 (permalink) |
| Miembro Especial Join Date: Aug 2007 Location: Debunking ccTLD
Posts: 6,800
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | A sad day for the domaining industry. I think this goes on a lot more than we are aware. I've seen some pretty shady bidding at other auction houses too.
__________________ ......
Last edited by MicroGuy; 11-05-2009 at 10:11 AM.
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| | #7 (permalink) |
| New Member Join Date: Jun 2009
Posts: 12
![]() | An important message from SnapNames Recently, SnapNames discovered that an employee had set up an account on the SnapNames system under a false name and, under this name, bid in SnapNames auctions. This is a clear violation of our internal policy and was not approved by the company. We deeply regret that this conduct has impacted our customers. Extent of impact This conduct affected a small percentage of SnapNames auctions: · Bidding affected approximately five percent of total SnapNames auctions since 2005, most of which occurred between 2005 and 2007. · The incremental revenue from the bidding represented approximately one percent of SnapNames’ auction revenue since 2005. No matter the level of impact, SnapNames takes this matter extremely seriously. When the matter was discovered, the company immediately closed the account in question and began a thorough investigation. The employee has also been dismissed from the company. SnapNames further discovered that, on certain recent and limited occasions, when the employee won an auction, the employee secretly arranged to refund from SnapNames to the fictitious account a portion of the winning bid amount. ????: NamePros.com http://www.namepros.com/domain-name-discussion/621078-halvarez-at-snapnames-auctions-uncovered.html Remedy to affected customers Though on some occasions the employee won the auction, in many instances the bidding caused the ultimate auction winner to pay more for a name than had the employee not participated in the auction. SnapNames neither condones this conduct nor wants to be perceived as benefiting from the conduct. Accordingly, we have decided that regardless of the circumstance, in every auction where the employee’s fictitious account submitted a bid which resulted in a higher price being paid by the winning bidder, SnapNames will offer a rebate, with 5.22% interest (the highest applicable federal rate during the affected time period), to affected customers for the difference between the prices they actually paid and the prices they would have paid, had the employee not bid in the auctions. The rebate will be available in cash or in credit on the SnapNames platform, at your discretion. SnapNames has moved quickly to address this situation. The company has retained Rust Consulting, an independent third party, who will administer the rebate offer. Within the next week, Rust Consulting will contact affected customers to provide details regarding the offer. Your business and ongoing relationship are important to us and we can assure you that we have taken all necessary steps to ensure the integrity of the platform and reinforced controls and procedures to avoid any possibility of further breach. These include: · Enhanced monitoring of bidding activity for suspect behavior · Additional controls over financial transactions · Specific domain name registration policies for employees In the meantime, if you have any questions, you may consult the FAQs here, or contact the SnapNames support team: By e-mail: support@snapnames.com Phone: +1 (866) 690-6279 (toll-free in the U.S.) +1 (503) 241-8547 (outside the U.S.) SnapNames, and all in the Oversee family of companies, are deeply disappointed with this incident. Since its founding in 2000, SnapNames has been committed to the principles of fairness and trust; the company wants to assure customers—through both words and actions—that it remains committed to those principles. Thank you again for your business, and for your ongoing trust in SnapNames. Rob McClinton Oversee Support
Last edited by Oversee Rob; 11-04-2009 at 11:47 AM.
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| | #9 (permalink) |
| NamePros Regular Join Date: Jun 2008 Location: Seattle
Posts: 320
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | I honestly wouldn't be surprised if this happens or has happened at a lot of the aftermarket auction sites (possibly even secretly condoned by the company). I see a lot of bidding activity that doesn't seem rational.
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| | #11 (permalink) |
| Miembro Especial Join Date: Aug 2007 Location: Debunking ccTLD
Posts: 6,800
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Last edited by MicroGuy; 11-04-2009 at 11:35 AM.
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| www.DataCube.com Join Date: Apr 2007 Location: USA
Posts: 5,817
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | It should be. There can not be full disclosure without this information. Brad ---------- Post added at 02:35 PM ---------- Previous post was at 02:34 PM ---------- ????: NamePros.com http://www.namepros.com/showthread.php?t=621078 Yeah, well that is my guess as well. Somehow he was always the second bidder in any auction that would have otherwise been a straight backorder. He would rarely bid, but when he did he would make irrationally high bids on turd domains. Brad |
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| | #15 (permalink) |
| Business Member Join Date: Aug 2007 Location: Pennsylvania
Posts: 991
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | He accounted for 1% of revenue over the years...that is huge. when the employee won an auction, the employee secretly arranged to refund from SnapNames to the fictitious account a portion of the winning bid amount. What does that mean? that's another huge black hole! stay tuned.........more to come. Paul |
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| | #16 (permalink) |
| NamePros Regular Join Date: Oct 2007 Location: World of Angels
Posts: 877
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | We all knew about it, but could not prove. It remains only to find out how many people continue to raise bids artificially.
__________________ Many cheap premium L-L-L.COM for sale. PM for information. |
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| | #18 (permalink) |
| Senior Member Join Date: Apr 2009 Location: Canada
Posts: 1,282
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | Personally, I think that SnapNames is taking the appropriate action to correct the fraudulent bidding. It is a shame that it took this long, but the initial press release has been quite open. There is no doubt in my mind that this is going to be quite costly for SnapNames, but again, it is needed action. |
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| | #21 (permalink) |
| www.DataCube.com Join Date: Apr 2007 Location: USA
Posts: 5,817
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | I am glad SnapNames.com is disclosing this, but I have questions about how it it could take 4+ years for them to discover this. I wonder if this was more of a case where they were caught somehow, and then they came clean. If the user is "Halvarez" there have been many discussions over the years about his bidding activity on domain forums. If it is not, then Snap needs to disclose the username. Brad |
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| | #22 (permalink) |
| Senior Member Join Date: Nov 2005 Location: Dubayy / Budapest
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| | #24 (permalink) |
| Senior Member Join Date: Jan 2006
Posts: 4,204
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | I commend SnapNames for revealing this info to us; this makes me trust them a little more, though I am still very disappointed to learn this. I don't understand why it would take four years to investigate something like this. |
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| | #25 (permalink) |
| www.DataCube.com Join Date: Apr 2007 Location: USA
Posts: 5,817
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() | It is "Halvarez" ????: NamePros.com http://www.namepros.com/showthread.php?t=621078 SnapNames User Name “Halvarez” Was Employee Bidding on Domain Names | Domain Name News Brad ---------- Post added at 02:44 PM ---------- Previous post was at 02:42 PM ---------- There have been several threads about "Halvarez" over the years. SnapNames.com taking 4+ years to discover this is ridiculous. Here are two such threads about "Halvarez" of many - why is halvarez...... - DNForum - Domain Sales, Domain Forum, Domain Appraisals, Domain Registrars http://www.namepros.com/domain-name-...snapnames.html Why was this not investigated at the time? Brad |
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