Customer says its losing $70,000 in daily revenue from one of the domains.

[Update: On Thursday afternoon, a judge denied the request for a temporary restraining order on the grounds that it lacks personal jurisdiction and it has not shown why TrustName shouldn’t be given an opportunity to respond.]
Oath Research, LLC, has sued (pdf) domain registrar FewMoreTaps, d/b/a TrustName, after its domains were stolen from the registrar.
Several TrustName customers have claimed that domains were stolen from their accounts shortly after TrustName received a de-accreditation notice from ICANN.
The “bulletproof” registrar claimed it would help companies protect domains in industries that often “face false or bad-faith abuse reports.” ICANN sent it a termination notice because the registrar was not handling abuse complaints appropriately.
Customers who had their domains stolen report having two-factor authentication on their accounts. Despite this, someone was able to steal the domains and transfer them from the Estonian domain registrar. The domains have ended up at the Chinese domain registrar NiceNic.
Oath Research alleges that the thief initiated transfers on 25 of its domain names. The company said one of the stolen domains generated $70,000 in daily revenue.
As an initial step, the company is asking the court for a temporary restraining order and preliminary injunction.