Despite positive vibes in the domain industry about cryptocurrencies such as Bitcoin, they’re still being used to facilitate scams and other crime.
A domain investor shared his plight on NamePros, about how he was scammed of 0.17 BTC (about $670 dollars) while trying to acquire the domain Kina.com.
The seller, an individual from Turkey, claimed that he could only accept Bitcoin due to the country blocking PayPal payments.
The buyer had completed successfully a previous transaction with the seller, for a considerably smaller amount, thus earning his trust.
Still, no escrow was used for this exchange, and the selling amount is not representative of a CVCV .com that’s valued at 10x that much.
The scammer’s account was restricted at NamePros and the admins are investigating potential links to duplicate, scamming accounts.
Along with Kina.com, the domain Saka.com was being peddled by the same cybercriminal. The domain’s legitimate owner stepped in stating that they own the domain, not the person who listed it for sale.
Buying a domain from strangers without the use of a reputable escrow company, such as Escrow.com, can lead to a hard lesson.
BitcoinCrime.Com created in 2012
CryptoCrime.com created in 2017