Here is the info from the TorrentSpy Team: (pay attention to the bolded text)

Friends of TorrentSpy,

We have decided on our own, not due to any court order or agreement, to bring the Torrentspy.com search engine to an end and thus we permanently closed down worldwide on March 24, 2008.

The legal climate in the USA for copyright, privacy of search requests, and links to torrent files in search results is simply too hostile. We spent the last two years, and hundreds of thousands of dollars, defending the rights of our users and ourselves.

Ultimately the Court demanded actions that in our view were inconsistent with our privacy policy, traditional court rules, and International law; therefore, we now feel compelled to provide the ultimate method of privacy protection for our users – permanent shutdown.

It was a wild ride,

The TorrentSpy Team

“Big Brother in the form of an increasingly powerful government and in an increasingly powerful private sector will pile the records high with reasons why privacy should give way to national security, to law and order [...] and the like.” – Justice William O. Douglas