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TLDR
Yuga Labs filed a turnover order to grab almost $400,000 in crypto property from influencer Jeremy Cahen (Pauly0x)
The courtroom beforehand dominated Cahen and artist Ryder Ripps infringed on Yuga Labs’ Bored Ape Yacht Membership trademark
Cahen allegedly moved crypto to keep away from asset seizure after a levy was issued
Cahen is presently on San Juan, Puerto Rico’s “Most Needed” record for aggravated assault
Yuga Labs was awarded almost $9 million in damages within the trademark case
Yuga Labs, creator of the favored Bored Ape Yacht Membership NFT assortment, has escalated its authorized battle towards crypto influencer Jeremy Cahen by submitting a turnover order within the U.S. District Courtroom for the Central District of California. The corporate is making an attempt to grab cryptocurrency property value almost $400,000 from Cahen, who is healthier identified on-line as Pauly0x.
The property in query embrace Bitcoin, Ethereum, and PEPE coin unfold throughout 4 digital wallets. These funds had been valued at roughly $400,000 as of October final 12 months, in response to courtroom paperwork.
This authorized motion stems from a lawsuit Yuga Labs filed in July 2022 towards Cahen and artist Ryder Ripps. The corporate accused them of infringing on its trademark by way of the sale of the Ryder Ripps Bored Ape Yacht Membership NFT assortment.
The Authentic Lawsuit
Ripps launched his copycat NFT challenge in Might 2022, claiming it was a “parody” and protest. He alleged that the unique Bored Ape NFTs contained hidden Nazi and racist imagery.
The courtroom disagreed with Ripps’ protection and dominated in favor of Yuga Labs in October 2023. Initially, the courtroom awarded the corporate over $1.5 million in damages. By February 2024, this quantity elevated to just about $9 million, together with $7 million in attorneys’ charges and post-judgment curiosity.
The ultimate judgment grew to become enforceable by March 3, 2024. Since Cahen has not posted a bond or obtained a keep of enforcement, Yuga Labs has begun post-judgment asset restoration efforts.
As a part of these efforts, Yuga Labs has subpoenaed Cahen’s accountant and served levies on numerous monetary establishments. U.S. Marshals delivered these levies to banks and crypto platforms, together with Financial institution of America, Chase, Wells Fargo, Robinhood, Coinbase, Binance, and Gemini.
“Yuga Labs has taken affirmative steps below California legislation, basically each month because the Courtroom issued its Last Judgment to find and execute upon Cahen’s property,” the corporate acknowledged in its current submitting.
Evading Asset Seizure
Courtroom data point out that Cahen moved $396,946 in cryptocurrency to keep away from a levy served to Gemini. Based on Yuga Labs, this switch occurred simply sooner or later after the levy was issued, earlier than Gemini might freeze his accounts.
This timing suggests a deliberate effort to evade asset seizure. Gemini offered transaction data in response to a subpoena, displaying that Cahen moved his crypto into two new wallets.
Yuga Labs has accused Cahen of creating “a mockery of this Courtroom’s Last Judgement by refusing to pay any portion of the judgment or adjust to any post-judgment discovery.”
Cahen maintains that he’s not required to adjust to discovery requests whereas his enchantment is pending. Nonetheless, he lacks a proper keep that might assist this place.
Authorized Troubles Past NFTs
Cahen’s authorized troubles prolong past his dispute with Yuga Labs. In February 2025, Puerto Rican authorities confirmed that Cahen is needed for aggravated assault. He was positioned on the highest 10 most wished record in San Juan, the island’s capital.
Based on native information outlet Metro Puerto Rico, police think about fugitives on this record, together with Cahen, to be armed and extremely harmful. An lively arrest warrant has been issued, with bail set at $75,000.
Cahen has constructed a serious on-line presence on platforms like Instagram and X. He branded himself “probably the most censored man on X” following the suspension of his account final 12 months.
His present challenge, a decentralized trade known as Pond0X, has confronted criticism and been labeled a rip-off by some. Earlier than this, Cahen was concerned with initiatives like Pork Coin, which additionally confronted backlash attributable to allegations of deceptive buyers.
The courtroom has not but dominated on Yuga Labs’ turnover movement. Decrypt has reached out to Cahen for remark through Instagram however has not obtained a response on the time of publication.
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