The creators of the cryptocurrency known as "Coinye" were officially shut down after receiving 84 court documents describing copyright violations from Kanye West's legal team.
Coinye, originally called "Coinye West", a scrypt-based cryptocurrency that featured West's face as its symbol, was set to be released on January 11. Though, on January 6, West's lawyers sent the creators of Coinye West a cease and desist letter, citing trademark infringement, unfair competition, cyberpiracy and dilution.
The developers changed the name of the currency to Coinye, and switched domain names. An addition of a fish tail to the mascot was included as a nod to a South Park episode that depicted West as being unable to understand why people were referring to him as being a "gay fish."
The Gay Fish song:
Needless to say, West and his lawyers were not satisfied with the gay fish alteration, and the creators of Coinye jumped ship, and sold all of their Coinye holdings. Though, volunteers have continued to develop the coin, even though the original creators refer to them as being "morons trying to revive this coin."
Hope I wont get sued for owning this twitter account lol :D ( Seriously, can I get sued? )
— Coinye (@CoinyeCoin) January 17, 2014
At present, Coinyethecoin exists online, with a tagline reading, "That's right bitches. Look who never died!!"
West's lawsuit named several defendants, many of whom never responded to any claims, which rendered them in the wrong by default. Named defendents Harry Wills and Richard McCord have reached a settlement with West.
We have been hiding in a box for 6 months... Hurry up @kanyewest
— Coinye (@CoinyeCoin) June 19, 2014
Wills, a 17-year-old U.K. high school student, commented, “The main reason I settled is because I get to have West’s lawyer, a United States district judge and Kanye West’s signature along with my signature on the legal document that removes me as a defendant, which I will print off and frame.”
Image via Wikimedia Commons