File-sharing website Megaupload is coming back

German entrepreneur Kim Dotcom is planning to relaunch file-sharing website Megaupload in January 2017, five years after the U.S. government took down the site accusing it of piracy, Reuters reported.

Megaupload had boasted of having more than 150 million registered users and 50 million daily visitors.

The news agency said Dotcom, who announced his plans in a series of tweets on Friday, said most of the Megaupload users would get their accounts reinstated with premium privileges.

Reuters said Dotcom also hinted and that the new website will use bitcoins. (bit.ly/29r9UIA)

Dotcom and three others were arrested on Jan. 20, 2012, after armed New Zealand police raided his country estate at the request of the U.S. Federal Bureau of Investigation.

U.S. authorities had said Dotcom and three other Megaupload executives cost film studios and record companies more than $500 million and generated more than $175 million by encouraging paying users to store and share copyrighted material, such as movies and TV shows. (reut.rs/29Ja8Ji)

 

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