Lookout software and media pirates! The FBI just shutdown the popular file-sharing site Megaupload and Megavideo, its video streaming site. According to a press release on the Department of Justice website, authorities have arrested several people in New Zealand so far, including founder Kim Schmitz (aka Kim Dotcom). They are all charged with “conspiracy to commit racketeering” and copyright infringement.
The FBI claims that Megaupload and its sister company Vestor Limited generated generated $175M in revenue and “caused more than a half a billion dollars in harm to copyright owners.” In addition to Kin Dotcom, among those being charged is site co-founder Kim Tim Jim Vestor and Chief Marketing Officer Finn Batato.
Apparently the Megaupload guys just weren’t as clever as The Pirate Bay crew and their torrent site. The Pirate Bay has been unstoppable by authorities. In fact, The Pirate Bay taunts authorities by posting every threatening letter that they receive online.