ICANN (Internet Corporation for Assigned Names and Numbers) has revoked the accreditation of 3 domain name registrars for various offences. South American Domains, Simply Named and Tahoe Domains are all based in the US and host 296, 298 and 231 top level domains respectively.
Under ICANN rules, the domains controlled by the three domain name registrars will be available for transfer to reliable third-party domain name registrars such as ourselves, Intrahost Ltd.
As with all things in business, this serves as a warning to do some due diligence on firms with which you have dealings on the Internet.
Don't be fooled by size either, last month Network Solutions, one of the biggest names in domain names and hosting admitted its ecommerce servers had been hacked. Only last year EstDomains was shutdown, by ICANN revoking their accreditation, and 281,000 domain names had to find new registrars.