Yuga Labs Demands Crypto Payout From Pauly0x

Crypto News Regulation

Pauly0x Faces Asset Seizure as Yuga Labs Demands Crypto Payout

Written by Aaron S.,

Editor-In-Chief

Last Updated: April 23, 2025

Key Takeaways

Yuga Labs is seeking nearly $400,000 in crypto from Pauly0x after winning a trademark lawsuit tied to copycat NFTs;
The court awarded Yuga almost $9 million in total damages after ruling against Cahen and Ryder Ripps over a parody NFT project;
With no payment or appeal delay from Cahen, Yuga has started legal action to recover funds through banks and crypto firms.

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Pauly0x Faces Asset Seizure as Yuga Labs Demands Crypto Payout

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Jeremy Cahen, a social media figure known online as Pauly0x, is facing legal pressure from Yuga Labs, a non-fungible token (NFT) company.

The company is asking a California court to hand over nearly $400,000 worth of crypto assets—Bitcoin BTC $88,592.34 , Ethereum ETH $2,862.87 , and PEPE PEPE $0.00000407 —held in four wallets linked to Cahen.

In 2022, Yuga Labs filed a lawsuit against Cahen and artist Ryder Ripps. The pair had launched an NFT collection called the "Ryder Ripps Bored Ape Yacht Club", which closely resembled Yuga’s original Bored Ape series.

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Ripps claimed his project was a parody meant to criticize the original collection, accusing it of including offensive hidden imagery. The court did not accept that argument and ruled in Yuga’s favor.

In October 2023, a judge awarded Yuga Labs $1.5 million in damages. The amount increased in February 2024, after attorney fees and interest were added, which brought the total to almost $9 million.

Since Cahen has not taken steps to delay or block enforcement, such as posting a bond, Yuga Labs has started trying to collect what it is owed. It has served legal notices to banks and crypto companies, including Binance $9.37B , Coinbase $2.24B , Gemini $186.54M , and several major US banks.

In a recent filing, the company told the court that Cahen “has made a mockery” of the ruling by ignoring orders and not paying anything so far.

On April 9, OpenSea’s legal team contacted the US Securities and Exchange Commission (SEC) to request clearer rules on how NFT marketplaces should be classified under current laws. What did they say? Read the full story.