UPDATE: The accused party has emailed the CyanogenMod team and agreed to relinquish control of the CyanogenMod.com domain. Although he had a much different story than what was initially posted by the CM team, he has decided not to voice his opinion, instead opting to “wash his hands and move on.” UPDATE #2: Looks like the perp was telling the truth. Cyanogen himself just tweeted moments ago:

Some jaw dropping news coming out of the CyanogenMod camp this afternoon. No, the custom ROM we all know and love isn’t going anywhere. Well, actually… it kind of is.

The CM team released a blog post this afternoon revealing an alleged extortion attempt by a trusted member of the team that has resulted in the loss of CyanogenMod.com and the official CyanogenMod email account. Before you freak out wondering where you’re going to get your next ROM fix, don’t let that scare you — the site has simply been moved to CyanogenMod.org for the time being, with the new email being changed to cmcyanogenmod@gmail.com.

While details are still murky, it’s unfortunate that this sort of stuff happens to a organization of developers that simply want nothing more than to make Android better. The CM team made it clear they will be pursuing legal action against the alleged perpetrator, in the mean time you can still grab CM downloads from Get.CM.

[CyanogenMod]