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$111,000 domain name theft case

$111,000 domain name theft case

The first indictment in the US for domain name theft has taken place after a man from New Jersey stole the name and sold it to a professional basketball player for more than $111,000.

In May 2006, Daniel Goncalves (now 25), illegally accessed accounts of domain name registrar GoDaddy “for the purpose of altering registration information for ‘, to fraudulently transfer registration of ‘ from its lawful registrant.”

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Once Goncalves had the domain name he auctioned in on eBay where is was bought for $111,211.11 by Mark Madsen, a professional basketball player for the Minnesota Timberwolves – who was unaware at the time of the theft allegations.

College Application Assistance was a domain name owned by businessmen who claim the domain was worth around $200,000 because of the short length and relation to peer to peer sharing.

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Apparently Goncalves and his a brother were expert AOL account hackers and were proficent in stealing user screen names. No information has yet been passed as to how they hacked into the GoDaddy account.

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