If you want to stay in business as a domain registrar, owing ICANN a large sum of money is never a good idea. Neither is having an unresolvable website. New Orleans-based registrar DomainCannon made both these mistakes, however. It not only owes the agency $186,598.39 in overdue accreditation fees, but is so out of whack that its website has been down for some time.
In light of both these things, ICANN has shut down the registrar. The 11,729 domains its customers own will likely be transferred to a more responsible company. It looks as though DomainCannon will fire no more.
Source | Domain Name Wire