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MegaUpload file sharing site shut down for piracy by Feds. This post has been updated.

MegaUpload file sharing site shut down for piracy by Feds

See note below. The Department of Justice announced Thursday that it has conducted a major action to shut down MegaUpload, a popular file-sharing site widely used for free downloads of movies and television shows. After receiving indictments from a grand jury in Virginia for racketeering conspiracy, conspiracy to commit copyright infringement and other charges on Jan. 5, federal authorities on Thursday arrested four people and executed more than 20 search warrants in the U.S. and eight foreign countries, seizing 18 domain names and an estimated $50 million in assets, including servers run in Virginia and Washington, D.C. MegaUpload is a "digital locker" that allows users to store files that can then be streamed or downloaded by others.

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