Yes, but that is a tough job. But it would work. Someone would have to monitor the program matching the e-mail addresses, assuming someone wrote a program with every e-mail address that has ever bought Stream Fab.
Chameleon
It seems that this is somewhat already in operation.  That's why the patchers have already come up with bypasses to error codes 318, 319, and 320.  StreamFab just needs to refine their algorithms or dedicate someone to manually do the search.  When I was moderator and had access to reading the streamfab.logs, I saw many examples of users that were obviously using illegal versions of StreamFab and passed them on to the staff.  Hey, it's DVDFab's money to lose, so it is up to them to tighten up their security.  For a libel finder's fee and the needed access, I'd be willing to manually do the searching.  As a retired person, living on Social Security, just barely pays the bill each month.  I'll increase StreamFab's security during my many free hours for the right price and the guarantee that I won't be ignored this time. How about it, 
@Wilson.Wang?