Man the lifeboats!

http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network


ETA, see also:
http://xb95.livejournal.com/635394.html (linked from the Valleywag post, but people seem to be missing it)
http://synecdochic.livejournal.com/302379.html


ETA2:
If you don't mind playing with svn and Perl, everything you need to save your journal data (posts and comments) as XML is here:
http://code.livejournal.org/svn/livejournal/trunk/src/jbackup/jbackup.pl