Not so much a hoax, but a scam:
This has absolutely no official status. Official asteroid names are established by the Committee on Small Body Nomenclature of the International Astronomical Union. Asteroid names are not for sale.
That any name bought through this website has no status at all, is buried deep in their website:
Is the IAD an official organization?
The global body in charge of giving asteroids their official designations is the Minor Planet Center, which is subordinate to the International Asttronomical Union. The International Asteroid Database is not affiliated with either of these organizations.
In other words: they are well aware that they are scamming people out of their money!