kiting
n.— «To avoid prosecution from registered brand owners, some of these online pharmacies are using a practice called “kiting.” Kiting is when a company registers and uses a domain for the ICANN-allowed grace period of five days or less without actually purchasing it. In researching the domain name histories of several pharmacies, MarkMonitor found that a few companies are sharing and kiting the same domain names over and over, more or less cybersquatting for free.» —“Spam study offers statistics on ‘brandjacking’” by Robert Vamosi Webware Aug. 20, 2007. (source: Double-Tongued Dictionary)
Further reading
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This sounds like an extension of “kiting” the way it’s used in banking, where it refers to writing a bad check from one account to deposit in a different account, then using those imaginary funds before the first check bounces.