I forget the companies name, but this was back in 2001. I was working on a personal project and needed a host. So, I found one that seemed to have a good reputation. A few weeks in, I noticed some serious down time, then I got an email saying they were selling the company. It was also around this time, I noticed that every so often, when my PHP scripts were called, the server would just sent the source to the user instead of actually passing it to PHP (I wasn't happy about this...)

So, I canceled my account and of course got billed again. Finally got that straightened out, and I just moved on. About 2 years later, I found the IP and login information in my FTP program again. Forgetting that this info was to an account I didn't have anymore, I tried to connect. To my shock, everything I had uploaded was still there, on a server located who knows where, and I still had access to cpanel and everything else. So, they hadn't cancelled my account, just removed me from the billing list.

And that was when I started to get paranoid about how secure my webhost was.