The CEO of a South Carolina technology company has pleaded guilty to 20 wire fraud cases related to a sophisticated network of counterfeit companies set up to obtain more than 735,000 Internet Protocol (IP) addresses from the nonprofit that runs the digital Real estate rents to companies in North America.

In 2018 the American register for internet numbers (ARIN), which monitors IP addresses assigned to companies in the US, Canada and parts of the Caribbean, notified Charleston, SC-based Micfo LLC that it intended to revoke 735,000 addresses.

ARIN said they wanted the addresses back because the company and its owner – 38 years old Amir Golestan – had received it under false pretenses. A global shortage of IPv4 addresses has driven the price of these resources up massively over the years: at the time of the dispute, a single IP address on the open market could fetch between $ 15 and $ 25.

Micfo responded by suing ARIN in an attempt to stop the IP address seizure ….

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