The post Yuga Labs Demands $400K in Influencer’s Crypto Wallets Over NFT Lawsuit appeared on BitcoinEthereumNews.com.

In brief Yuga Labs seeks turnover of nearly $400K in Bitcoin, Ethereum, and PEPE from crypto influencer Jeremy Cahen. The court previously ruled that Cahen and artist Ryder Ripps infringed on Yuga Labs’ Bored Ape Yacht Club trademark. Yuga Labs accused Cahen of making a “mockery” of the court’s judgment. Yuga Labs has filed a turnover order in the U.S. District Court for the Central District of California, in an effort to seize crypto assets held by influencer Jeremy Cahen, also known online as Pauly0x. The assets, spread across four wallets, include Bitcoin, Ethereum, and PEPE coin, and total nearly $400,000 as of last October. Yuga Labs sued Cahen and artist Ryder Ripps in July 2022 for infringing on Yuga Labs’ trademark through the sale of the Ryder Ripps Bored Ape Yacht Club NFT collection.  Ripps had launched the copycat project in May 2022 as a form of “parody” and protest, claiming Bored Ape NFTs featured hidden Nazi and racist imagery.  The court sided with Yuga, awarding it over $1.5 million in damages in October 2023. The following February, this increased to nearly $9 million in total, including $7 million in attorneys’ fees and post-judgment interest. The final judgment, entered on February 2, 2024, became enforceable by March 3. Cahen has not posted a bond or obtained a stay of enforcement, which has allowed Yuga Labs to begin post-judgment asset recovery. The company has since subpoenaed Cahen’s accountant and served levies—delivered by U.S. Marshals—on banks and crypto platforms including Bank of America, Chase, Wells Fargo, Robinhood, Coinbase, Binance, and Gemini. “Yuga Labs has taken affirmative steps under California law, essentially every month since the Court issued its Final Judgment to locate and execute upon Cahen’s assets,” the company said in its most recent filing.  “Still, Cahen has made a mockery…

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Filed under: News - @ April 23, 2025 5:27 am