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Sex.com, arguably the web's most valuable address, is up for sale after its owner went bust.

Escom LLC, which bought Sex.com in 2006 from Match.com founder Gary Kremen for a reported $14m, is in foreclosure. The coveted address currently hosts text links to porn websites.

It will change hands again at auction in New York on March 18, but it seems unlikely it will match its pre-recession price. To participate bidders must deposit $1m in escrow, however.

Kremen originally registered Sex.com in May 1994, but it was stolen the following year by fraudster Stephen Cohen, who made millions from it during the dotcom boom.

A lengthy legal battle ensued, with Kremen eventually regaining control - and $65m damages - in 2000. Cohen fled to Mexico before being returned to the US and jailed. He was subsequently released and litigation is ongoing.

The Sex.com saga was chronicled in a 2007 book by Kieren McCarthy, formerly of this parish.

Elliot's Blog first reported the new sale. The auctioneer's information is here. ®

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