Via ABC: giant file-sharing and online storage site MegaUpload has been shut down by federal prosecutors. The site’s founder and several employees were also placed under arrest for violating piracy laws.

The federal prosecutors claim that the site was costing copyright owners up to USD 500M in lost income for hosting illegal copies of music, movies, and TV shows.

Megaupload is a popular file-sharing service among manga and anime fans due to its large capacity (single files of up to 100 MB can be stored on the service) and red-hot download speeds.