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November 17, 2015

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

You Have Money Coming from Sale of a Domain You Didn't Even Know You Owned? Yes, It's a Scam

Old scams never die, they just take a vacation then come back to rope in new victims who apparently never heard the old axiom "if it sounds too good to be true it probably is."  Another one has reared its ugly head with two incidents already reported to me this week, one by a guy who lost about $2,500 to the swindlers. The other would be victim contacted me before he sent any money and saved himself a lot of heartache.

It goes like this - someone contacts the victim and tells them they are domain brokers who have sold a domain that the victim owned (usually saying it was acquired during the victim's time at 

Scam image from Bigstock

another company - with the company name likely being found by the crooks on social media or elsewhere on the web). Never mind that the victim has no recollection of registering or being involved with the domain in question in any way! I guess when someone tells them they have $47,000 coming some people are willing to "suspend disbelief" if it is going to bring them such an unexpected windfall. 

Con man image from Bigstock

The problem is, that in order to claim their $47,000 they first have to send the "broker" their 10% commission - a mere $4,700. When the guy who lost his money told the con man that he did not have that much on hand, the "broker", during one of several phone conversations they had, kindly offered to let him send just half the money now and the rest after the mark was paid for the domain. Who wouldn't jump on a deal like that (except for anyone who gave it more than 5 seconds thought, of course)!? 

So the victim mailed his money off to an address in Goodyear, Arizona. Then, the weirdest thing happened. The broker stopped answering his emails or taking his calls. Go figure! Upon further investigation, the victim learned that the "office" address he sent the money to was actually a rented mailbox in a UPS Store.

The main reason these two cases were reported to me is that the "broker" pointed the marks 

toward one of the weekly domain sales reports at DN Journal to show them the domain they claimed belonged to the victim had been sold for the amount the broker stated. That is obviously no proof whatsoever that the domain sold belonged to the person who never remembered owning it in the first place - but a small percentage of people ignore the obvious and throw caution - and their money - to the wind.  I'm just hopeful those who weren't already aware of this ruse will  remember these few words "it it's too good to be true..."

(Posted November 17, 2015) 


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