Kanye West's lawyers take aim at online currency creators

Kanye West's lawyers have taken aim at the creators of Coinye West, a new version of online currency, in a bid to block its launch.

A group of online entrepreneurs were planning to launch the new cryptocurrency in honor of the Stronger hitmaker on Thursday (09Jan14), but the project has drawn the wrath of West's attorneys.

West's team has filed cease-and-desist papers against the seven creators of Coinye West, claiming trademark infringement on the currency, which features what appears to be a comedy cartoon likeness of the star.

According to documents obtained by the Wall Street Journal, West's lawyers state, "Given Mr. West's wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr. West is the source of your services."

Following the legal threat, the currency creators decided to rename the online money Coinye, alter the cartoon, and change the domain before launching the currency on Tuesday (07Jan14) - two days before it was originally scheduled to go live.