The link points to the defaced main page. If you're unfamiliar with nic.ly, you might be interested to know that it's the domain register for the .ly TLD.
At present, it's just a defacement. bit.ly and others still work. Additionally, sites below the main page like http://www.nic.ly/regulations.php still work.
At present, it's just a defacement. bit.ly and others still work. Additionally, sites below the main page like http://www.nic.ly/regulations.php still work.