What killed LimeWire?

Could you please elaborate on the reasons behind the demise of LimeWire, a once-popular peer-to-peer file-sharing application? What specific factors contributed to its downfall, and how did they ultimately lead to its discontinuation? Were there any regulatory or legal challenges that played a role in its demise? Furthermore, what can we learn from LimeWire's story in terms of the evolution of digital file-sharing and the challenges faced by similar platforms in today's digital landscape?