One of the popular file sharing website, Megaupload was taken down by US Justice Department.

One of the world’s larget filesharing websites, Megaupload was shutdown on thursday and its founder along with several company executives were arrested. They have been charged with online copyright infringement.

The Justice Department said in a statement that Kim Dotcom and three others were arrested on Thursday in New Zealand at the request of US officials.The accused generated more than $175 million and caused more than $1 billion in harm via megaupload.com and other sites.

More than 20 search warrants were executed in the U.S. and eight other countries today. About $50 million worth of assets and targeted sites where Megaupload has servers as well as 18 domain names were also seized. Website is currently offline.

Website allow users to download content from the website for free but charhes for subscription for faster download. Website was also generating revenue from the advertising. Website also use reward system in which website pays users for uploading popular content on the website which attracts traffic to the website.