What happened to Coinye?

So, what's the story behind Coinye? I heard it was supposed to be a parody of Bitcoin, but then things went south. Can you fill me in on what happened? Was it just a joke that went too far, or was there some sort of legal issue involved? I'm curious to know what led to its downfall. Did the creators abandon the project, or did it get shut down by someone else? And what's the current status of Coinye? Is it still around in any form, or is it completely defunct now?