yuga labs seeks access to crypto wallets bored apes lawsuit 1234739614

Yuga Labs, the parent company of Bored Ape Yacht Club, has filed a motion in US District Court demanding that Jeremy Cahen, co-creator of the RR/BAYC NFT series, turn over control of four cryptocurrency wallets allegedly holding $400,000 in assets. This follows a February judgment ordering Cahen and Ryder Ripps to pay nearly $9 million for trademark infringement and cybersquatting. Yuga Labs claims Cahen transferred funds to private wallets after a court-authorized levy was served on his crypto exchange account, and seeks court-ordered access via the U.S. Marshals. Cahen's legal team plans to respond by May 5, calling the motion "courtroom theater" and arguing it contains factual misrepresentations.