Yuga Labs, the agency behind the Bored Ape Yacht Membership (BAYC), is chasing down the crypto property of Jermey Cahen, aka Pauly0x, whereas claiming that the disgraced crypto influencer is intentionally avoiding a $9 million judgment towards him.
The agency claims that Cahen is using “dilatory tactics” and has tried to “sidestep his financial responsibilities” by transferring bitcoin (BTC), ether (ETH), and pepecoin (PEPE), collectively price nearly $400,000, into 4 separate wallets.
Attorneys for Yuga Labs requested {that a} California courtroom concern a “Turnover Order.” This, if granted, requires Cahen handy over the keys to those wallets to the US Marshals Service in order that his funds might be transferred and fulfill the courtroom judgment that was determined in February 2024.
Cahen was discovered answerable for disgorgement of earnings in relation to a sequence of copycat BAYC NFTs that he offered. Nevertheless, Yuga Labs says Cahen made “a mockery of this court’s final judgement” by refusing to pay the hefty sum whereas bragging about buying extreme tickets to an LA Clippers basketball sport.
“Cahen continues to assert — despite not having posted a bond or obtained a stay — that he is not obligated to comply with post-judgment discovery while the appeal is pending,” Yuga Labs claims.
The agency additionally highlights how Cahen transferred $260,000 price of ETH from his Gemini account to considered one of these wallets in the future after he was served a levy. This switch occurred earlier than Gemini may freeze his account, and Yuga Labs claims it confirmed “a deliberate and calculated move to shield his assets from the final judgment.”
Cahen is a crypto founder who discovered himself on Puerto Rico’s high 10 most wished checklist for alleged assault. He’s behind a fork of PEPE referred to as “PORK” and a fork of Uniswap, referred to as “PondOx,” and was suspended from his varied X accounts final 12 months.
