I agree that this is extremely sad, and to be honest I'm currently buffering eps of shows I'm currently watching. But honestly people, there are other options.
Gooddrama.net is still a solid provider of asian dramas. There is also a considerable amount of movies on youtube as well. You just need to know where to look. Sites like dramafever are also a solid options, although it stinks if you're not american. Even the american netflix has a few kdramas and asian movies. If you have a netflix account but don't know how to get access to the american Netflix, send me a pm. I can help you out. As for torrent downloads one can find random downloads around the web, and asiantorrents.me has a solid drama/movie stock up.
Dramacrazy (and animecrazy for anime) was the best online source for dramas and movies, and this is a very sad day. However I'm certain that there are reasons behind the decision without having any inside information to go on. As a dramafan I'm despairing, but I'm quite sure this can't be easy for the owner either.
Let's move on people, but always carry the good quality, quantity and good time spent on AC/DC with us in our hearts.