Major fraud at Snapnames - rigging of domain auctions

[Smooth]

Snapnames is probably the largest reseller of domain names. And if, like me, you've bid for domains at snapnames, you've likely had the bidding pushed up by a fake bidder... a Vice President of the company, no less.

As one blogger put it, the domain name industry has now got its own Bernie Madoff.

Full coverage on the Washington Post and elsewhere (though the BBC is strangely quiet)

Suspicions have been around for a while but, amazingly, when snapnames was sold to oversee.net a couple of years ago, nobody bothered to do the due diligence.

Snapnames is giving some people refunds but not everybody is happy with the extent of the action.

Just thought this needed some publicity.

[Kay]

I've heard a little bit about this but hadn't looked too closely before. Thanks for your posting.

It's quite shocking how some people will behave in such an unethical manner. I agree, anyone interested in the domain market should be aware of this issue.
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[kuttu80]

I agree with both of you.In eBay also you will face such fraudulent bids.
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