What a mess. And as always with NetSol involved.
Maybe DAN should only allow crypto payouts to sellers with a proven track record? At least then there would be a paper trail to pursue.
Without diving into too many details, we performed extensive KYC on the seller before she got her BTC payout. We reviewed an official Utility bill and a US government-issued ID. Everything checked out when we researched the domain and the owner.
Also, BTC is now used by Paypal, Square, Tesla, and so on. It has become mainstream. According to Dutch law, but not only limited to Dutch law, BTC is also seen as a currency just like USD or EURO.
In this case, someone lost a significant sum due to a hacker having access to a domain for months after the original owner was informed that she was hacked. The original owner, apparently, never changed her password after the first hack which allowed this situation to happen.
Stands4 had negotiated a deal directly with the seller/hacker before they asked us to handle the ownership transfer. We executed a smooth domain ownership transfer for a small fee and weeks after the transaction was concluded and the buyer actually even started using the domain, issues started to arise.
The entire situation is absolutely horrendous for the buyer. We fully understand that and that's why we assisted them with everything we had, until, they started using the documents we provided them against us to force us to settle or get negative media attention. And here we are. Two months ago, we almost started a lawsuit against Stands4 LTD in the Netherlands because we were fed up with their threats and harassment. We wanted a Dutch judge to issue a verdict on this case so all parties could move on.
In hindsight, maybe we should have gone in that route since we'd have a verdict by now while the case set up by Stands4 LTD will take at least 3 years to set up. That's why they started the case in the wrong jurisdiction/forum because they know that they do not have a case that will stand ground. Our legal representation will file for a speedy dismissal of the case to prevent US taxpayers to pay for this frivolous case set up by a foreign company and individual that has no real footprint in the US.
We're confident that our processes are of high standards. We've handled tens of thousands of transactions flawlessly and our transaction volume is growing 20% month over month without deteriorating our service.
Time will tell and prove that all their complaints against us are fabricated.
Kind regards,
Dan