Yuga Labs Pursues $400K in Crypto from Influencer in NFT Trademark Case - MoneyCheck (2025)

TLDR

• Yuga Labs filed a turnover order to seize nearly $400,000 in crypto assets from influencer Jeremy Cahen
• Cahen and artist Ryder Ripps were previously ordered to pay nearly $9 million for infringing on Bored Ape Yacht Club trademark
• Yuga accuses Cahen of evading court orders by moving assets after levies were issued
• Cahen is also on Puerto Rico’s “Most Wanted” list for aggravated assault with bail set at $75,000
• Cahen founded controversial projects including Pond0x and Pork Coin that faced accusations of being scams

Yuga Labs, creator of the popular Bored Ape Yacht Club NFT collection, is taking legal action to seize cryptocurrency assets from influencer Jeremy Cahen in an ongoing trademark dispute. The company filed a turnover order in the U.S. District Court for the Central District of California targeting nearly $400,000 in Bitcoin, Ethereum, and PEPE coin held across four wallets.

The legal battle began in July 2022 when Yuga Labs sued Cahen (known online as Pauly0x) and artist Ryder Ripps for trademark infringement. The lawsuit centered on Ripps’ copycat NFT collection launched as a “parody” project.

Ripps claimed his collection was a form of protest, alleging that Bored Ape NFTs contained hidden Nazi and racist imagery. The court disagreed with this defense.

Legal Judgments and Asset Recovery

In October 2023, the court ruled in favor of Yuga Labs, ordering damages exceeding $1.5 million. By February 2024, this amount increased to almost $9 million, including $7 million in attorneys’ fees and interest.

The final judgment became enforceable in March 2024. Since Cahen did not post a bond or obtain a stay of enforcement, Yuga Labs began pursuing asset recovery.

Yuga has taken multiple steps to locate and seize Cahen’s assets. They subpoenaed his accountant and served levies on various financial institutions including Bank of America, Chase, Wells Fargo, and crypto platforms Coinbase, Binance, and Gemini.

Court records reveal that Cahen moved $396,946 in cryptocurrency to avoid a levy served to Gemini. According to Yuga, this transfer occurred just one day after the levy was issued, suggesting a deliberate attempt to evade asset seizure.

Cahen’s Other Legal Troubles

Beyond the Yuga Labs case, Cahen faces more serious legal issues. Puerto Rican authorities confirmed in February 2025 that he appears on San Juan’s “Most Wanted” list for aggravated assault with bail set at $75,000.

Local police consider fugitives on this list, including Cahen, to be armed and highly dangerous. Active arrest warrants have been issued for their capture.

Controversial Crypto Projects

Cahen has built a substantial online presence and launched several contentious cryptocurrency projects. His most recent venture, Pond0x, faced sharp criticism for security flaws.

The Pond0x project launched a token that users could mint by connecting their wallets. A major flaw in the smart contract allowed anyone to transfer other users’ tokens, leading to accusations that the project was either poorly designed or an outright scam.

Many traders lost money when the token’s value collapsed. Despite these issues, Cahen defended Pond0x as a “social experiment” rather than a typical investment.

He also promoted other questioned projects like Pork Coin, which faced backlash for allegedly misleading investors. Critics have accused Cahen of reckless project design or deliberately profiting at the expense of retail investors.

Cahen, who has branded himself “the most censored man on X” following account suspension last year, maintains that he is not obligated to comply with discovery requests while his appeal is pending.

Yuga Labs claims in its filing that “Cahen has made a mockery of this Court’s Final Judgement by refusing to pay any portion of the judgment or comply with any post-judgment discovery.”

The court has not yet ruled on Yuga Labs’ turnover motion. Decrypt has approached Cahen for comment via Instagram.