Why is Namecheap able to snatch up expired domains? (1.Viewing)

Namecheap clearly doesn't offer a domain backordering service, so how can it register expired domains like mykey.xyz at the first opportunity? I submitted a backorder request on other platforms, but the domain was registered by Namecheap.

I have previously contacted Namecheap's customer support, and they confirmed that they do not provide backordering services. There have been similar cases before where the domains were registered by individuals.

.xyz is kind of a free for all, I think the registry itself does things that are not always at face value.

Looks to be in Iceland, NameCheap has no presence there so someone else is involved.

Some marketplaces have deals with the registry. NameCheap gets to list the XYZ names in advance to auction them off. Check their marketplace