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What is interesting to me is that you can’t really “revoke” an IP. ARIN’s authority really only comes from ISPs that listen to their recommendations in creating prefix filters.

ARIN doesn’t give you any rights to an IP, because there is no such thing.

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ARIN controls WHOIS which is relevant since this fraudster was selling the IPs. If I was buying some IP space I would certainly check WHOIS to see if the seller owns what they are selling.

Also, it seems like the Microsoft/Nortel case established that there is some such thing as ownership rights over IPs.

It's an example of human cooperation for a greater good.

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