Finally Megavideo.com Shut Down

Megaupload and Megavideo Shutdown

Most famous visitors websites Megavideo.com Megaupload.com, a leading file-sharing Web sites, was instantly shut down on Thursday after federal prosecutors accused it of mass copyright infringement. The decision came amid a nationwide battle over online music and video piracy.

It is reported that the Fed have taken into custody seven individuals, who they say are part of a, “Mega Conspiracy, a worldwide criminal organization whose members engaged in criminal copyright infringement and money laundering on a massive scale”. If convicted, the defendants will face up to 20 years in jail and fined up to $175 million.

The shutdown of the high-profile sharing sites could be in direct response to the mass online protests against the planned PIPA and SOPA anti-piracy bills being debated in the US Congress. The Megaupload site was run by a man called Kim Dotcom also known as Kim Schmitz and six other individuals.

The FBI said of the takedown, “The estimated harm caused by the conspiracy’s criminal conduct to copyright holders is well in excess of $500 million. The conspirators allegedly earned more than $175 million in illegal profits through advertising revenue and selling premium memberships.”

Megaupload is one of the largest file-sharing websites on the Internet. The fact that the site is being shut down so soon after this week’s SOPA/PIPA controversy could indicate that 2012 will be the year that the U.S. federal government really begins to crack down on illegal file streaming. “The estimated harm caused by the conspiracy’s criminal conduct to copyright holders is well in excess of $500 million,” said the FBI. “The

conspirators allegedly earned more than $175 million in illegal profits through advertising revenue and selling premium memberships.

Euronews about Megaupload

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