Coinye West: Kanye West sues online currency

Kanye West has filed a lawsuit to stop production of Coinye West digital currency, saying they unjustly cash in on his fame.

The lawsuit, filed on Tuesday in Manhattan, seeks to stop companies and unidentified people from exchanging the digital currency.

It is also asking for damages for hurting the rapper’s reputation.

However, its makers appear to have backed down from a court case after a message was posted on Twitter.

“#BLAMEKANYE Coinye devs have dispersed. New ownership, better things coming,” the @CoinyeCoins tweet said.

One of the websites linked with Coinye also posted a message on its homepage reading: “Coinye is dead. You win, Kanye.”

Kanye West’s lawsuit says the creators of the digital coins “brazenly admit” they used his name and likeness to associate their new currency with the rapper.

Its creators used a cartoon image of a coin featuring the musician in large sunglasses.

The lawsuit also claims the people behind the currency boasted it couldn’t be stopped whether it “looks like a dollar, a dog or a cartoon picture of a rapper”.

Coinye West, also known as crypto-currency, is similar to Bitcoin, a paperless currency people can use like cash anywhere in the world.