Kim Dotcom says you can't trust Mega, teases his own file hosting competitor

And will be set up in Wikipedia's non-profit model

Kim Dotcom, the founder of encrypted file hosting service Mega, is warning users that it your data may no longer be safe on the service.

Doctom left Mega in 2013, less than a year after he had launched the file-sharing service, in pursuit of other interests.

In a user interview, he says that the New Zealand government (where Mega is based) has seized all his shares in the company and now controls the company, as well as saying that Hollywood has seized the Megashares in his family's trust, though this is unverified.

"As a result of this and a number of other confidential issues, I don't trust Mega anymore," he said.

In a tweet today, he reiterated on the issue and said: "I will issue a detailed statement about the status of #Mega next week. Then you can make an educated decision if you still want to use it."

A competitor

Dotcom also revealed that he has plans on launching a new file hosting site that will compete with Mega.

This will be his third foray in to file-sharing and hosting services, having also founded Megaupload before it was shut down by a US government department in 2012.

He said that as his non-compete clause with his Mega contract will no longer be effective after the end of this year, "I will create a Mega competitor that is completely open source and non-profit, similar to the Wikipedia model."

"I want to give everyone free, unlimited and encrypted cloud storage with the help of donations from the community to keep things going."

Via Engadget