I suggest you to sign in to your OneDrive account on another device or a browser and check if it still show that your storage has been reduced. If you still face this issue, I suggest you to contact Microsoft Accounts and Billing Team. You can contact Accounts
and Billing team on the link given below.
5gb is not plenty. Its hardly any space at all. With photo back up from our lumias, and music streaming with groove there is no way 5gb is even close to enough. You not being able to fill a 2tb drive has nothing to do with the average user.
This article says that free users will not be grandfathered into their plans, and will be reduced to 5GB after one year. Why not just reduce the storage for overt abuers of the system? Even that is not exactly a good business model. All this will do is
move more users to Drop Box and Google Drive:
Nope! I read that wrong sorry guys. But people were abusing this. There were accounts with 75Tb in storage on these free accounts. This is meant for office documents, not someones whole video and music library! LOL just image, if Microsoft didn't put a
stop to it, let's say if they achieve their goal of 1 billion users using Windows 10 and every user that would store 75Tb of data on a Microsoft server for free. Imagine how many data centers they would need just to store all that information. I couldn't imagine
Microsoft would only give a Windows 10 user, not office 365, only 5Gb of space, you couldn't even back up your computer with 5Gb. That would render OneDrive useless to keep system backups on LOL but then I didn't read the news correctly on this already so