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Megaupload Shut Down

January 21, 2012 by staff 

Megaupload Shut Down, The founder and three employees of the Megaupload file-sharing website have appeared in court in New Zealand after being arrested in police raids.

New Zealand police also seized guns, artwork, more than £5 million in cash and luxury cars valued at nearly £3 million after serving 10 search warrants at several businesses and homes around the city of Auckland.

The Megaupload site was shut down on Thursday over US accusations that it facilitated millions of illegal downloads of films, music and other content, costing copyright holders at least £300 million in lost revenue.

With 150 million registered users, about 50 million hits daily and endorsements from music superstars, Megaupload.com was among the world’s biggest file-sharing sites. Big enough, according to a US indictment, that it earned founder Kim Dotcom £27 million last year alone.

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