In 2022, conceptual artist Ryder Ripps and collaborator Jeremy Cahen created the "Ryder Ripps Bored Ape Yacht Club" (RR/BAYC) collection, using identical digital images to Yuga Labs' original Bored Ape NFTs.12 While Ripps claimed his collection was "appropriation art" meant to protest alleged "racist, neo-Nazi, and alt-right dog whistles" embedded in the original BAYC NFTs, the court rejected this defense.13 In October 2023, U.S. District Judge John Walter ruled against Ripps and Cahen, finding they had "intentionally infringed Yuga's BAYC Marks with a bad faith intent to profit."3

The court ordered Ripps and Cahen to pay $1.6 million in damages—$1.375 million representing their profits from RR/BAYC sales plus $200,000 in statutory damages—along with Yuga's attorney fees and costs.34 Judge Walter noted the case was "exceptional," citing text messages between the defendants where Cahen told Ripps "Ur gonna make so much on this shit LMFAO" and "You'll make like a million dollars," contradicting their claims that the project was purely protest-oriented.3 The ruling established an important precedent for trademark protection in the NFT space, confirming that digital assets can receive the same intellectual property protections as physical goods.56

The February 2024 final judgment against Ripps and Cahen significantly increased their financial liability from the initial $1.6 million to nearly $9 million, including $7 million in attorneys' fees and post-judgment interest.12 The court's comprehensive ruling required the defendants to not only pay damages but also permanently cease using any BAYC identifiers in logos or trademarks.1 Additionally, Judge Walter ordered Ripps and Cahen to transfer all infringing intellectual property to Yuga Labs within two weeks, including codes, passwords, and credentials.1

The judgment also mandated that the defendants either destroy any remaining RR/BAYC NFTs in their possession or surrender them to Yuga Labs for burning.12 This extended to all related infringing materials such as promotional items, advertisements, and social media accounts associated with the unauthorized collection.2 Following the ruling, Cahen (Pauly0x) indicated their intention to appeal the decision to the Ninth Circuit Court of California, though their counterclaims—which included allegations of emotional distress—were dismissed.2 The case has become a landmark in establishing intellectual property protections in the NFT space, demonstrating the serious legal and financial consequences of trademark infringement in digital assets.23

Jeremy Cahen, known online as "Pauly0x," has found himself on San Juan, Puerto Rico's "Most Wanted" list since February 2025 for aggravated assault charges unrelated to his cryptocurrency activities.1 According to local authorities, Cahen is considered armed and highly dangerous, with an active arrest warrant and bail set at $75,000.2 Puerto Rican police allege that Cahen attacked a man, "striking him in the face and body countless times," throwing him to the ground, and continuing to kick him until the victim lost consciousness and required medical attention.3

While evading these criminal charges, Cahen has also been actively attempting to avoid Yuga Labs' asset recovery efforts. Court records show he transferred $396,946 in cryptocurrency from his Gemini account just one day after a levy was issued—before the platform could freeze his assets.45 This deliberate evasion prompted Yuga Labs to accuse him of making "a mockery of this Court's Final Judgement by refusing to pay any portion of the judgment or comply with any post-judgment discovery."2 Beyond these legal troubles, Cahen has been involved in controversial crypto projects including Pond0x and Pork Coin, both of which faced accusations of being scams designed to profit at the expense of retail investors.16

Ryder Ripps has built a reputation as a provocative conceptual artist whose work often stirs controversy in the art world. Before his legal battles with Yuga Labs, Ripps was known for boundary-pushing projects like "Art Whore" (2014), where he hired Craigslist masseuses to create artwork during his residency at the Ace Hotel, drawing criticism for what many saw as exploitation of sex workers12. In another controversial exhibition titled "Ho" (2015), he appropriated and distorted Instagram photos of fashion model Adrianne Ho into grotesque paintings2.

Ripps' work frequently explores internet culture and digital identity. He co-created dump.fm, a real-time image sharing platform, and was involved with DIS, a post-internet art collective3. His 2016 exhibition "Barbara Lee" featured an installation of 50,000 internet images, commenting on social media and clickbait culture4. In 2021, Ripps falsely claimed authorship of the CIA's redesigned logo, later explaining to GQ that "social online platforms are games that are played within the attention economy—authorship and sincerity are murky..."5. His controversial approach to NFTs began before the BAYC dispute when he received a DMCA takedown notice from Larva Labs after selling near-identical versions of CryptoPunks NFTs5, establishing a pattern of appropriation that would later escalate in his high-profile legal conflict with Yuga Labs.

As of December 2024, Bored Ape Yacht Club (BAYC) maintains its position as one of the most prominent NFT collections globally, with a market capitalization of approximately $809 million1. However, the collection has experienced significant volatility, with floor prices dropping from their all-time high of $420,430 in May 2022 to around $24,000 in late 20242. This 94% decline reflects broader challenges in the NFT market since its 2021-2022 peak.

Despite these market fluctuations, Yuga Labs continues to develop its ecosystem. The company has shifted focus to core projects, selling off its Meebits intellectual property in February 2025 to concentrate on BAYC and its Otherside metaverse3. In March 2025, Yuga Labs secured a significant regulatory victory when the SEC concluded its three-year investigation without filing charges, affirming that "NFTs are not securities"4. The company continues to expand through partnerships, including a recent collaboration with BMW that produced custom Bored Ape-themed vehicles and merchandise5, while maintaining community engagement through exclusive events for BAYC holders in cities like Toronto6.