Megaupload.com Shutdown For Violating Piracy Laws

The mega file-sharing website Megaupload.com has been shutdown by federal authorities for violating piracy laws. The site has been endorsed by celebrities like Kim Kardashian, Alicia Keys and Kanye West.

Via AP:

McLEAN, Virginia (AP) — One of the world’s largest file-sharing sites was shut down Thursday, and its founder and several company executives were charged with violating piracy laws, federal prosecutors said.

An indictment accuses Megaupload.com of costing copyright holders more than $500 million in lost revenue from pirated films and other content. The indictment was unsealed one day after websites including Wikipedia and Craigslist shut down in protest of two congressional proposals intended to thwart online piracy.

Before the site was taken down, it posted a statement saying allegations that it facilitated massive breaches of copyright laws were “grotesquely overblown.”

“The fact is that the vast majority of Mega’s Internet traffic is legitimate, and we are here to stay. If the content industry would like to take advantage of our popularity, we are happy to enter into a dialogue. We have some good ideas. Please get in touch,” the statement said.

The site boasted 150 million registered users.