A New Jersey hacker has been arrested after he broke into a site owner's account, transferred the domain name ownership to himself, and then sold it to an NBA player.
The domain name, P2P.com, was sold in 2006 for $111,000 to Los Angeles Clippers forward Mark Madsen on eBay. The Cyber Crimes Unit of the New Jersey State Police on Thursday charged Donald Gonclaves, 25, with theft by unlawful taking, identity theft and computer theft, according to a news release.

Police estimated the value of the domain name, considering the popularity of file sharing, to be between $160,000 and $200,000 at the time of the theft.

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