I was told, since I don't use it, that it was closed because it was in breach of the DMCA in America, and that some of its owner/workers in New Zealand were arrested.
Isn't the DMCA a more effective SOPA with less negatives...
It's effective, but places the responsibility on the companies to scour the web and find all their stuff that's being pirated. The SOPA seems like, instead of sending a DMCA request to remove the pirated stuff, it'd make it possible to take down the whole site. I'm no expert on either, though, so maybe someone else can give some details regarding the differences.