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.
The case matters because it tests the boundaries of copyright and trademark enforcement in the emerging NFT and blockchain art space, where digital assets can be easily moved across anonymous wallets. The dispute also highlights ongoing tensions between corporate NFT projects like Bored Ape Yacht Club and artists who claim their derivative works are protected as protest or satire. The outcome could set a precedent for how courts handle post-judgment asset recovery in crypto-related intellectual property cases, affecting both the art market and the broader digital asset ecosystem.