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WHEN DANIEL ELLSBERG photocopied and leaked the Pentagon Papers to the New York Times in 1971, those 7,000 pages of top secret Vietnam War documents represented what was then the biggest whistleblower leak in history—a couple dozen megabytes if it were contained in a modern text file. Almost four decades later, WikiLeaks in 2010 published Cablegate, a world-shaking, 1.73 gigabyte collection of classified State Department communications that was almost a hundred times bigger.

If there’s some Moore’s Law of Leaks, however, it seems to be exponential. Just five years have passed since WikiLeaks’ Cablegate coup, and now the world is grappling with a whistleblower megaleak on a scale never seen before: 2.6 terabytes, well over a thousandfold larger.

On Sunday, more than a hundred media outlets around the world, coordinated by the Washington, DC-based International Consortium of Investigative Journalists, released stories on the Panama Papers, a gargantuan collection of leaked documents exposing a widespread system of global tax evasion. The leak includes more than 4.8 million emails, 3 million database files, and 2.1 million PDFs from the Panamanian law firm Mossack Fonseca that, according to analysis of the leaked documents, appears to...

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