What is probably the first case of domain name theft, a US man is being charged with shifting the legitimate ownership of a site to himself and then selling it on.
Daniel Goncalves is said to have hacked into the owner's account to transfer the p2p.com domain name to himself. He then sold it online for $111 000.00.
Experts believe the name could be worth as much as $200 000.00 because of how it relates to peer-to-peer (P2P) networking.
Goncalves faces a civil suit brought by the original owner of the name. The company that runs the hacked system and the name's purchaser are also named.
The case is believed to be the first relating to actual theft of a domain name, as opposed to the more common cyber-squatting where people could register names they have no intention of using, simply to sell them to the highest bidder.