Reglikedomain industry desk

Security of Escrow Process — Sedo Improves

Security of Escrow Process — Sedo Improves

Online account interface makes spoofing more difficult.

It has been a while since I’ve sold a domain on Sedo, so I noticed a fresh security enhancement today when transferring a domain to a buyer.

The security problem was that Sedo’s escrow process used to be handled exclusively by e-mail. Following Sedo received funds, the seller received an email with instructions for transferring the domain. This e-mail could be spoofed (indeed, I recall reading regarding at least one such high profile case) resulting in the seller transferring the domain ahead of money was received and into a criminal’s account.

The fresh process still includes e-mail, but it requires you to log into your Sedo account to verify the money has been received and for instructions on transferring the domain. This is much more secure and is similar to how Escrow.com and Afternic work.

Of course, this is only more secure if people know regarding the process. Someone familiar with the old process may still be tricked by a spoofed email. So here it goes: If you sell a domain on Sedo, be sure to log in to your account to verify the money has been received and to find instructions for transferring your domain. Do not transfer based on information supposedly sent by a Sedo representative only.

Also on the wire

Other reporting from the domain desk.

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