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Yuga Labs is seeking to seize the encryption assets held by influencer Jeremy Cahen due to an NFT infringement lawsuit.
According to Techub News and reported by Decrypt, Yuga Labs has submitted a motion to the U.S. District Court for the Central District of California, aiming to seize the encryption assets held by influencer Jeremy Cahen (online name Pauly0 x). These assets are distributed across four wallets, including Bitcoin, Ether, and PEPE, totaling nearly $400,000 as of last October. Yuga Labs sued Cahen and artist Ryder Ripps in July 2022, accusing them of infringing on Yuga Labs’ Bored Ape Yacht Club trademark by selling the Ryder Ripps Bored Ape Yacht Club NFT series.