There's an epic battle going on in EVE Online right now, involving around 4000 people and enough space hardware to make screenshots look like bee swarms.
It's taking place in the 6VDT system, and the two sides are CFC/Goon and the TEST Alliance.
UPDATE -Looks like TEST Alliance are bugging out.
You can watch it all take place in the stream video here. It's a great watch; the commentator is doing a fantastic job of explaining proceedings for those who have no idea what the hell is going on.
UPDATE 2 - OK, show's over folks. CFC/Goon won the day. Developers CCP have confirmed that it was the largest engagement in the game's history, involving over 4070 pilots.
A report on The Verge, meanwhile, says that around 2900 ships were destroyed. For reference, the Battle of Asakai, which took place in January, "only" involved around 2800 pilots, and over $20,000 worth of losses were inflicted.