Yuga Labs has filed a motion in federal court in California requesting the transfer of assets belonging to influencer Jeremy Cahen, known online as Pauly0x. The case involves nearly $400,000 in cryptocurrencies that Cahen allegedly attempted to hide from collection. The matter stems from a legal dispute over rights to the Bored Ape Yacht Club NFT collection.
In 2022, Yuga Labs sued Cahen and artist Ryder Ripps, accusing them of trademark infringement. Ripps launched a project called Ryder Ripps Bored Ape Yacht Club, which he framed as parody and political commentary. He claimed that the original NFTs contained hidden racist symbolism.
The court ruled in favor of Yuga Labs, awarding the company over $1.5 million in damages, which by 2024 had grown to nearly $9 million including penalties and legal fees.
Hidden Transfers and Attempt to Evade Payment
According to court documents, Cahen has not paid a single cent of the judgment, nor has he posted a bond or obtained a stay of enforcement. Yuga Labs began collection efforts by serving subpoenas to his accountant and sending asset seizure requests to banks and crypto platforms including Bank of America, Chase, Wells Fargo, Robinhood, Coinbase, Binance, and Gemini.
The plaintiff claims that Cahen transferred $396,900 in crypto from the Gemini platform to two new wallets the day after receiving a subpoena, an action seen as an intentional move to avoid asset freezing. Gemini provided the court with transactional data.
As of October 2024, Cahen reportedly held around $400,000 in four crypto wallets, containing Bitcoin, Ethereum, and PEPE. The court has not yet ruled on Yuga Labs’ request to transfer these assets.
Cahen’s Response and Ongoing Investigation
Cahen argues that he is not obligated to comply with the court’s judgment while his appeal is pending, despite not having an official stay in place. Last year, his X account was suspended, after which he branded himself "the most censored man on X." He has been actively promoting memecoins, including through his own platform Pond0X, which critics have labeled a scam.
Additionally, authorities in Puerto Rico have reported that Cahen is wanted for aggravated assault. In February 2025, he was listed among the top 10 most wanted individuals in San Juan.
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