Whats up with Domain Back Order? Legal? Blackmail?

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The review of this web host was started by 2939195631902 on 2008-12-16 03:38:00:

So I own a webdomain. It will expire in 4 months. However, business is going pretty well, so im going to renew the domain and register for a business name.

Unfortunately, someone contacted me and told me he back ordered my domain name and tried to blackmail me to pay him two thousand for it.

First of all, can he really back order my domain before my term is up? How does it really work.

If he did really back order my domain name, is there any other way i can get it back without paying him 2k?

This is just fcked up.

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