Yuga Labs seeks to seize nearly $400,000 from Jeremy Cahen due to a trademark infringement ruling. Cahen faces legal troubles, including an arrest warrant in Puerto Rico. His controversial projects, Pond0x and Pork Coin, have drawn criticism for security flaws and alleged investor deception.
Yuga Labs has initiated a turnover order to confiscate nearly $400,000 in cryptocurrency assets belonging to influencer Jeremy Cahen, known as Pauly0x. This action is linked to a 2022 lawsuit where Cahen and artist Ryder Ripps were found liable for infringing on the Bored Ape Yacht Club trademark, resulting in a cumulative penalty of nearly $9 million, including substantial legal fees.
In October 2023, a court ruled in favour of Yuga Labs, initially awarding $1.5 million in damages, which subsequently grew to nearly $9 million by February 2024 due to ongoing legal costs and interest. Since the enforceable judgement in March 2024, Yuga Labs has taken measures to recover assets from Cahen, launching inquiries into his financial activities and issuing levies against banks and crypto exchanges.
Court documents indicate that Cahen moved $396,946 in cryptocurrency to new wallets to prevent its seizure by a levy served to the Gemini exchange—this transfer occurred mere days after the levy was enacted, raising suspicions of intentional evasion. Despite his claims of being unable to comply with disclosure requests pending an appeal, Yuga Labs continues to assert that he is disregarding the court’s orders.
In addition to his conflicts with Yuga Labs, Cahen is also facing serious legal issues in Puerto Rico, having been listed among the city’s “Most Wanted” for aggravated assault. With an active arrest warrant and a bail amount of $75,000, local law enforcement considers him armed and dangerous.
Cahen, who has garnered a significant following on social media, has been associated with controversial crypto projects—including Pond0x and Pork Coin. Pond0x was critiqued for critical security flaws that allowed unauthorised token transfers, leading to financial losses for users. Cahen characterised this venture as a “social experiment.” Furthermore, he faced backlash over Pork Coin for allegations of investor deception, leading to speculations around his intentions and integrity as a developer.
