ICANN announced that 123 Registration,INC. has lost its accreditation for failure to comply with the requirements of the RAA (Registrar Accreditation Agreemenet ) .
Therefore,ICANN started a process to identify the most qualified registrar which will take over the management of 123 Registration's domain names .
However,if you want to to transfer your domain names to a different registrar ,you will be able to do that .
For more details check out www.icann.com