There is definitely some risk, so mitigate it and buy the ly.com variant of a .ly domain to protect against this - much like ad.ly owns adly.com, embed.ly owns

There is definitely some risk, so mitigate it and buy the ly.com variant of a .ly domain to protect against this - much like ad.ly owns adly.com, embed.ly owns embedly.com. Watch what bit.ly does - likely nothing right now. If they get warning like vb.ly says they did, we will hear about it, and then every .ly owner has a problem.