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Wasn't it owned by Internet Computer Bureau (ICB)?

Regardless, the British government profited off of the .io domain while it rightfully belonged to the Chagossians of British Indian Ocean Territory.

As far as I can tell, the British government has officially claimed not to have been paid anything from the .io registrar.

Despite the registrar claiming it deposited some amount into accounts for each territorial party they were ostensibly operating on the behalf of.

So, someone's lying.