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.

 

[Embrand]

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.

Network Solutions once again...

Sorry to hear about this. Hope you can get your funds back through legal action.

 

[DaveX]

That's not how I operate. The domain has recently been added to Afternic. This happened to me several weeks ago. Theo from DomainGang messaged me today to let me know it is for sale on Afternic.

So you really did lose 26k?

 

[alcy]

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.

netsol huh...

any particular reason you picked netsel after all the horror stories all around?

and do you ever wonder if you'd be facing same situation had it been transfered to say.. godaddy?

I ask becuse 99% of problematic cases seem to involve netsol. it just keeps coming back.

 

[BoothDomains]

@BoothDomains Why you did not call Rebecca?

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.

 

[BoothDomains]

I didn't pick Netsol. The name was already there. I just did a push to my account and was about to transfer to my GoDaddy account, and yes I lost all the money.

 

[alcy]

this is awful. too bad you had that 60 day lock.. and couldn't trasnfer to gd earlier.

 

[DaveX]

So you had the domain in your Netsol account? Then you were (smartly) going to transfer it out?

 

[Addison]

yes I lost all the money.

Condolences. That's a heavy pill to swallow.

You'll bounce back!

 

[BoothDomains]

Exactly. I did the push as I thought there were no issues. I literally logged in to my Netsol account to do the transfer to GoDaddy and realized the name was gone.

 

[BoothDomains]

Condolences. That's a heavy pill to swallow.

You'll bounce back!

It's life I guess. I saw someone lost much more on PDD.com.

 

[Constantin S]

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.

This could've happened to anyone, the only thing I can suggest when buying a domain is to directly request the EPP code and move it to a secure registrar, Netsol/Web(.)com has proven way too many times how bad they are at handling domain names.

 

[DaveX]

Unbelieveable.

 

[joro001]

I've personally sold a domain before to @BoothDomains and he is highly professional and was a pleasure to deal with. You will bounce back from this even if you end up having lost all that money and get not a cent back in the worst case scenario.

Honestly there are so many reasons to be wary of buying these really liquid domains, from all these seemingly endless scams we keep on reading about such as this one even escrow isn't safe, all the UDRP's which seems to increase with time, I personally am pretty put off these 3l.coms as an investment too many other potential issues down the road these days at these prices (but that's just me).

Again you will move forward no matter the outcome of this!

 

[TERADOMAIN]

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.

Sorry to hear about your loss. You are doing great so you will recover via other sales. But it’s lesson for so many here including me.

Soon I will share a post why not to keep names at NetSol until they change their structure. They have lots of loopholes and it becomes a perfect platform to hold stolen names. I did transfer all of my names from there to my Other rigistrar for this reason. There are lots of horror sotires in last couple of months and there is only one thing which is common and that is NetSol.

Thanks

 

[carob]

This could've happened to anyone, the only thing I can suggest when buying a domain is to directly request the EPP code and move it to a secure registrar, Netsol/Web(.)com has proven way too many times how bad they are at handling domain names.

Another thing would be to refuse to buy a domain at Netsol - insist that the buyer moves it to another registrar first, then when you buy they push to you at the new registrar. Too many stories of domains being bought at Netsol then disappearing without warning or notification.

 

[creataweb]

That's nuts. Glad to see someone suing NetSol for this non-sense.

 

[alcy]

Exactly. I did the push as I thought there were no issues. I literally logged in to my Netsol account to do the transfer to GoDaddy and realized the name was gone.

oh so the domain wasn't even locked. too bad you waited 4 weeks ot transfer. you know how netsol is.

 

[Josh R]

I didn't pick Netsol. The name was already there. I just did a push to my account and was about to transfer to my GoDaddy account, and yes I lost all the money.

Netsol are the worst in the industry by far. How much bad PR do they want!? Sorry to hear about this James @BoothDomains

 

[Dandelion]

This is very bad. Is there nowhere to report this to ICANN? I think ICANN should have a say in a matter like this?

 

[Lox]

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.

Ok, Thx for answering