Federal prosecutors shut down Megaupload file-sharing site, founders charged

Details are still somewhat light at the moment, but reports are now coming out that the popular Megaupload file-sharing site has been shut down by Federal prosecutors in the US, and that the sites founders and other individuals have been charged with violating piracy laws. According to The New York Times, the indictment says that the company has cost copyright holders some $500 million in lost revenue, and that the site was at one time the 13th most popular on the internet. As the Times also notes, this news comes a day after Megaupload voluntarily blacked out its website to protest the SOPA and PIPA anti-piracy legislation now being considered by Congress.

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