WTF mate?

So out of boredom i translated some binary i found below and got a url to a wierd ass site, lost my user name and PW so it wont let me check it out too much more from this public IP.  And you can't "join" the site without finding some coded invite.
 
www.lost.eu/73305 



01110111 01110111 01110111 00101110 01101100 01101111 01110011 01110100 00101110 01100101 01110101 00101111 00110111 00110011 00110011 00110000 00110101

Saw something similar to this on the craigs list forums.  I wouldn't touch that site with a 10 layer proxy.