Developers are abandoning Coinye project due to Kanye West lawsuit
Kanye West’s lawyers don’t mess around when it comes to messing around with the rapper’s brand on the Internet. Not only has Kanye West filed a lawsuit against YouTube co-founder Chad Hurley for uploading his proposal video to MixBit, his lawyers filed a trademark infringement lawsuit against the developers behind Coinye. Coinye is a digital currency that works in a similar fashion as Bitcoin.
“Coinye is dead,” states a message posted to Coinye.in. “You win, Kanye.” There is also a Coinye subreddit that says that developers have abandoned the project. West and his lawyers alleges that the creators of Coinye are trading on his name and image without permission. West’s lawyers even filed a complaint against the operators of Coinye exchanges: 0daycoins.com, Coinye-Exchange.com, and NewChg.com.