Chinese Domain Market Newsletter

If you live in the sail city, always have your sunglasses and umbrella with you when you go out. Yesterday was a good example. The rain had stopped and the sun was shining, so we went out for a morning walk. I put on my sunglasses and had a small umbrella in my pocket. Yes, by the end of our walk the umbrella had replaced my sunglasses. Here's the post.

June 17, 2016 (Fri)

Domain scam -- Chinese style

In China, people who own domain names are considered very smart, but this is not always true. Suppose you registered a domain name a year ago. One day someone who claims to be the sales director of a domain brokerage firm calls you. He says that you have a very good domain name and he wants to sell it for you. He appraises the domain name to be worth about 1m CNY if it comes with certain domain certificates.

The next day, an executive from an investment company calls and says he wants to buy your domain name. Quite magically, his offer is about 1m CNY too. But, the condition is that you provide him with the relevant domain certificates.

While you are still congratulating yourself on how smart you were in registering the domain name, a domain owner contacts you and tells you to give up your domain name by selling it to him. He has the same name on a different extension and his domain name is stronger than yours because it already comes with all the relevant certificates.

By now, what would you be thinking? Of course, the only thing that needs to be done is to get the relevant certificates. So, as quickly as you can, you get back to the broker and send him thousands of dollars for the domain certificates -- only to realize later that they are all fake. No certificate is ever required to sell a domain name!