, bought for $1M, saved in reverse domain name hijacking case – Domain Name Wire

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Leave a Comment September 11, 2023
Domain buyer revealed in WIPO dispute.
It’s been over a year since sold for just over $1 million. The domain has been parked ever since, and I’ve wondered who the buyer was. Now we know, courtesy of a cybersquatting dispute.
Unlimint Holding EU Ltd/ Mr Admin – Cardpay Ltd bought the domain for a new subsidiary called Stable Defi Ltd. As I expected, based on the subsidiary name, it appears the goal is to launch a crypto-related company.
But, as the company worked to launch the business, another company became envious of its valuable domain name.
Stable App, a currency app that uses the domain, filed a cybersquatting complaint with World Intellectual Property Organization against the domain name (WIPO). WIPO has published the decision and found Stable App LLC guilty of reverse domain name hijacking for filing the Complaint.
It was a relatively easy decision for the panelist to make.
The Respondent acquired the domain before the Complainant was incorporated and before it applied to register trademarks. The Complainant tried establishing an earlier date by pointing out that the Complainant’s founders started a WhatsApp chat group called Stable before the domain was acquired. However, it provided no connection between that chat group and the Respondent to show it was aware of the Complainant’s plans.
Given the circumstances, panelist Warwick Rothnie found that the case was an attempt at reverse domain name hijacking.
Abello Abogados represented the Complainant, and Hogan Lovells represented the domain name owner.
Categories: Policy & Law
Andrew Allemann has been registering domains for over 25 years and publishing Domain Name Wire since 2005. He has been quoted about his expertise in domain names by The Wall Street Journal, New York Times, and NPR. Connect with Andrew: LinkedInTwitter/XFacebook
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