USENET INDEXER Newzbin has been shut down because it can't pay its bills.
The outfit lost a court case brought against it by the Music Publishers Association (MPA), which wanted it shut down because it helped people find copyrighted material. Newzbin owes the MPA £230,000 just in interim costs before the judge awards damages. Apparently it also owes a software development house over £500k.
Users have been pressing Newzbin to open source the website code but it has refused. Now of course it can't because any code will have to be sold to pay off debts.
However there are rumours that someone has hacked into its servers and nicked the code and several databases. Word on the street is that the hackers have more than enough to be able to set up clones of the software and the website anywhere they like.
Newzbin is denying involvement but said that based on source code fragments supplied by a third party and examined by it, the website source code does appear to have been stolen and is in the hands of unknown parties. It would not be the first time that Newzbin has been hacked.
Newzbin has linked here to give an official explanation. µ