Reboots nonstop when i try to make a newcamd.list in var/keys/

when i insert a file in var/keys after i have enabled mgcamd with pceditor.. and i reboot the ipbox it does the following: booting - start - "format Hdd" - Booting.... and so on and on. Only thing i can do is to flash it with usb with a new image then it works again. but then there is no newcamd.list file.. :S