I found a link to David Airey’s blog on a forum and I think it’s important to read this. Had his registrar enabled a security key fob system, this theft could have been prevented. It’s scary to know that email accounts can be hacked, but its even scarier to know that if it happens, all of your domain names could be vulnerable.
Consumers can purchase insurance policies in the event valuables are stolen, but due to the nature of domain names, I don’t think coverage for theft events exist. Sure, a domain investor can fight to get his names back using the court system, but that is costly and takes a great deal of time. Valuable SEO rankings can be lost in the time a website is down, costing a business thousands of dollars in losses.
I think its about time a registrar makes domain name security impenetrable from outside theft. As far as I am concerned, the best way to do it is using a security key fob. When will a registrar take action and make domain theft a thing of the past?
Andrew at DomainNameWire.com made a fantastic point in his post on this topic:
“Now here’s the really scary part. A popular domain web site, DomainTools, could compromise your entire portfolio of domains. DomainTools offers a product called “Registrant Search” that allows anyone to purchase a list of domains registered by a particular person or with a particular email address. If Airey had a portfolio of domains, the cracker could have easily stolen all of his domains.“