discuss [Resolved] Domainer Loses $26k On A Stolen Domain!

[DaveX]

Darn! Another scam and this time it is an experienced domainer James Booth.

James must have thought he was making a sound acquisition as he transferred approximately 26k to escrow for CQD.com. Instead, after completing the escrow, the domain was taken from his account by the registrar without notification and returned to the "true" owner.

Turns out the person that sold him the domain CQD.com, may not have been the true owner.

Apparently this incident involves several parties including the registrar and the escrow.


Thanks to Theo over at DomainGang for the tip on this.

 

[Dandelion]

If Escrow.com can not guarantee the safety of Domainers, the propose of using them has been defeated

 

[Kate]

Escrow only guarantees payment. Not title to the asset or due diligence.

 

[BrandEntrance.com]

Hi All, Just to let you know what happened. I emailed the Whois email (the same one that is listed now) and agreed a deal. I did my due diligence and also emailed the email on the website ([email protected]) and they both confirmed all my questions. I set up the Escrow transaction and Escrow confirmed the seller was KYC verified. So after speaking to both emails and Escrow confirming the seller was verified I believed the domain to be safe.

I made payment for $26k and had the domain in my Network Solutions account for around 4 weeks. One day I logged in to find the domain had just vanished. I called Netsol / Web.com and they said ''Oh we have returned the domain to the seller'' Obviously I was not happy. They did not email me, call me or mention in any way anything about it. They simply just took the domain with NO questions and handed it back to the seller.

I am currently proceeding with legal action.

So I am learning that after I buy a domain I need to transfer it immediately to a third account to stop this from happening.

 

[BrandEntrance.com]

I did. The whole thing is really fishy. I called, emailed and did all the checks. It seems she told Web.com one of her employees sold the name without her authorization which is a lie.

I have all the emails from her.

And this is enough to take a domain you paid solid cash for?

What kind of BS operation is that?

Even if an ’employee’ did it then they did it on behalf of the company... ergo that would make it a matter between the company and the employee.

 

[eurorealtor]

So I am learning that after I buy a domain I need to transfer it immediately to a third account to stop this from happening.

If the domain was stolen, it will most likely be removed from any account you transfer to.

 

[BrandEntrance.com]

If the domain was stolen, it will most likely be removed from any account you transfer to.

From a few posts up

”No, before that - She got her name back, then Netstole gave it back to Booth, then Nethole gave it back to the original owner again. And she has moved it to Epik so Netfool can't mess with it again.”

 

[Kate]

A domain transfer can be reversed if both registrars involved agree.

 

[BrandEntrance.com]

A domain transfer can be reversed if both registrars involved agree.

...agree on listening to the first complaint that comes in without any investigation.

 

[Name Trader]

...agree on listening to the first complaint that comes in without any investigation.

NetStole have a very long history with stolen domains. Weren't they involved in some way with the original sex.com theft? Even before that incident, they manipulated a domain out of my possession. They are not trustworthy. I try to never buy domains at NS. If I ever get one. The very first thing I do is transfer it away, at the earliest possible time. And ALWAYS before I try to sell it. Their behavior in this situation was deplorable. That should be enough to sound loud alarm bells ringing thru the entire industry. IMHO. Especially for any person or company owning any valuable domains there.

 

[IMEZI]

Netstole gave it back to Booth, then Nethole gave it back to the original owner again. And she has moved it to Epik so Netfool can't mess with it again.

AWESOMEEEEE LOL!!!

 

[Grilled]

I have a similar story but it was a $150K domain name and the seller sued me 18 months after the sale claiming the transfer was unauthorized. The name was at Network Solutions and I did use Escrow.com.

Wow. That's more than 5X of what was likely lost for CQD.com.

I wish I was around then and/or aware. I would have enjoyed helping/researching where/if applicable.