A U.S. District Judge in California issued a judgment on Wednesday in favor of Yuga Labs, creators of the popular Bored Ape Yacht Club, against Ryder Ripps (“Ripps”) and Jeremy Cahen (“Cahen”) and awarded Yuga Labs over $1.5 million in damages, the amount the court said Ripps and Cahen made in profits from the sale of Ryder Ripps Bored Ape Yacht Club which infringed on Yuga Labs’ trademark. The court granted Yuga Labs’ request the defendants pay $200,000 in damages for the cybersquatting violations, $100,000 per domain, and issued a permanent injunction against the defendants. In addition, the court dismissed the defendants’ counterclaim that Yuga Labs made false accusations of infringement and used racist and neo-Nazi imagery in its BAYC NFTs. This ruling is good news for Yuga Labs as it means they will be able to continue operating without interference from Ripps and Cahen. #YugaLabs #BoredApeYachtClub #NFTs #CopyrightProtection

You can read more about this topic here: Decrypt: Ryder Ripps Must Pay Yuga Labs $1.5 Million for Bored Ape Trademark Infringement

Want more Byte Syze Crypto news?

Invalid email address
We promise not to spam you. You can unsubscribe at any time.