Dynadot

warning I lose $42,000 on an escrow.com transaction as pdd.com, help please.

Catch.Club Catch.Club

American

Established Member
Impact
43
Hi,
I bought pdd.com via escrow.com and the seller took the domain back on networksolutions.com after he received the money $42,000 US dollar.

for detailed information, please view http://www.drjw.com/

Any suggestions about what I can do is welcome, thank you!

If you know a lawyer who is an expert in online domain name disputes, please tell me his/her contact information, thank you very much!
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
One simple question comes from this experience.
If using the Escrow.com concierge service, is it far less likely for something like this to happen. And even if a fraudulent domain does slip through, would their extra services provide protection for the buyer?
There are many pages to this story, but the basic fact was that escrow.com was used, without the concierge services. I'm curious whether this could have eliminated the problem.
Probably not. Here's what Escrow.com's website says about their concierge service:
"When the domain(s) are received in our holding account and have been checked against the purchase agreement, Escrow.com will transfer the domain(s) to the buyer's registrar and disburse funds to the seller. As the domain has already been checked by Escrow.com, there is no need for an inspection period."

It doesn't sound like they do any ownership verification and/or checks for possibly stolen domains.
 
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Obviously Escrow.com are not living up to their claimed reputation. Is there any escrow service, domain sales service, which could be trusted to have this service in place.
 
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LoveCatchyDomains

Daring to LiveTop Member
Impact
1,943
Obviously Escrow.com are not living up to their claimed reputation. Is there any escrow service, domain sales service, which could be trusted to have this service in place.
This unfortunate incident was years ago. Is there anyone on this forum for Escrow that can comment, in general, on added protections that have been put in place since then?
Realistically, also, this is one instance. Has anyone recently had a similar issue like this with any escrow company?
Perhaps, as a whole, more caution is being used to stop these domain scallywags and scoundrels.
 
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This unfortunate incident was years ago. Is there anyone on this forum for Escrow that can comment, in general, on added protections that have been put in place since then?
Realistically, also, this is one instance. Has anyone recently had a similar issue like this with any escrow company?
Perhaps, as a whole, more caution is being used to stop these domain scallywags and scoundrels.

I don't trust anybody who outright lies to their customers, however long ago it was, and who keeps their job.
 
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I even went thru a long process to get an electronic bank approved with Escrow. Got it approved. Did my first sale using that account to receive my funds. And then they closed that account down (wise.com). Because it wasn't a "traditional" bank. Nowhere along the way did they state that it must be a "bricks and mortar" bank. At no point did I get any indication that they were going to close the account down after the first transaction. They didn't have any problems with the payment. It was just something they decided they did not want to do.
 
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Crock

Software EngineerUpgraded Member
Impact
281
The price is good deal for a three letter. That should have drawn some suspicion
$42k for a random letter LLL.com? pfft, I paid $18,750 for a LLL .com a few months ago. This is barely crossing over into end user pricing for a domain like this.
 
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LoveCatchyDomains

Daring to LiveTop Member
Impact
1,943
I even went thru a long process to get an electronic bank approved with Escrow. Got it approved. Did my first sale using that account to receive my funds. And then they closed that account down (wise.com). Because it wasn't a "traditional" bank. Nowhere along the way did they state that it must be a "bricks and mortar" bank. At no point did I get any indication that they were going to close the account down after the first transaction. They didn't have any problems with the payment. It was just something they decided they did not want to do.
That's very frustrating--to go through the trouble setting this bank up and being approved, only to have that closed down unexpectedly.
No doubt, they have been hyper sensitized by the domain scoundrels in the past. Unfortunately, you wonder if their heightened concerns lead to practices that may inadvertently hurt the more honest folks.
 
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That's very frustrating--to go through the trouble setting this bank up and being approved, only to have that closed down unexpectedly.
No doubt, they have been hyper sensitized by the domain scoundrels in the past. Unfortunately, you wonder if their heightened concerns lead to practices that may inadvertently hurt the more honest folks.

Sure. Wise is a well respected bank. Nothing in the application was faulty. It was approved. Then they shut it down. I don't think this is the way a respectable company does business. IMHO.
 
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elevator

DNCombo.comTop Member
Impact
1,333
It is ridiculous to hear that the domain got to your account and you accepted to cancel the transfer or pushing.
and that NS locked your account. The explanation is not very clear to me.

It is as simple as that the domain is a stolen one and without your consent you bought it and that is why your account is locked.

Just try and contact NS and explain to them. Possibly you can get your money back since they have sent the domain back to the seller.
 
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sparks_lu

Established Member
Impact
46
$42k for a random letter LLL.com? pfft, I paid $18,750 for a LLL .com a few months ago. This is barely crossing over into end user pricing for a domain like this.
PDD.com is no ordinary LLL.com.

Checkout PinDuoDuo.com. This is the 2nd or third largest e-commerce site in China and listed in NYSE (PDD).

$42k is actually really cheap, even back in 2018, especially that's when PinDuoDuo went public.
 
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johnsmith53

Account Closed (Disallowed)
Impact
20
PDD.com is no ordinary LLL.com.

Checkout PinDuoDuo.com. This is the 2nd or third largest e-commerce site in China and listed in NYSE (PDD).

$42k is actually really cheap, even back in 2018, especially that's when PinDuoDuo went public.
I agree - a great domain - very valuable
 
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