The site's fate is grim now that its owners and admins are being prosecutedAs the Demonoid story unravels, the fate of the site becomes gloomier. While there was still hope yesterday, it's been shattered now as it seems that the owners and admins of the site, who allegedly are from Mexico, are being investigated by the local police.
TorrentFreak reports that, apparently, one of the site's admins was arrested last year on charges of copyright infringement due to his relation to the site. Demonoid was blocked in Mexico as a result, but carried on elsewhere.
Now though, it seems that the rest of the team is under investigation as well. What this means is that you'll likely not see a rehash of The Pirate Bay story and Demonoid will stay down for good.
BitTorrent and file-sharing sites in general, come and go, but no matter how hard the media industry tries, they don't disappear completely. And if The Pirate Bay is an example, there will always be people outsmarting authorities and keeping things running.