Crypto Entrepreneur Jeremy Cahen Added to San Juan, Puerto Rico's Updated “Most Wanted” List

Crypto entrepreneur Jeremy Cahen, known online as “Pauly0x,” has been added to San Juan, Puerto Rico’s updated “Most Wanted” list for aggravated assault, authorities confirm.

Crypto entrepreneur Jeremy Cahen, also known as “Pauly0x,” has been included in San Juan, Puerto Rico's updated “Most Wanted” list for aggravated assault, according to authorities.

Local news outlet Metro Puerto Rico reported that fugitives on the list, including Cahen, are considered armed and highly dangerous, with active arrest warrants issued for them. Cahen's bail is set at $75,000.

Cahen has built a significant online presence, especially on social media platforms like Instagram and X. He is also known for founding the controversial decentralized crypto project Pond0x.

The project, which was initially promoted as an “unstoppable” and permissionless protocol, quickly faced scrutiny after launching its POND token.

Users could mint the token by connecting their wallets, but a major flaw in the smart contract allowed anyone to transfer other users' POND tokens. This sparked accusations that the project was either poorly designed or a scam.

As security concerns grew, many traders lost money when the token's value plummeted. However, Cahen defended Pond0x, claiming it was a social experiment rather than a typical investment.

Cahen's role in projects like Pork Coin, which also faced severe backlash due to allegations of misleading investors, has brought attention to his business practices.

This led to accusations that Cahen was either reckless in his project designs or that his actions were part of a coordinated effort to profit at the expense of retail investors.

Cahen, Yuga Labs Lawsuit

Yuga Labs, the creators of the popular Bored Ape Yacht Club (BAYC) NFT collection, filed a lawsuit in June 2022 against Cahen, Ryder Ripps, and others for allegedly infringing on their trademarks.

Yuga Labs alleged that Cahen and Ripps created and sold NFTs that copied the Bored Ape Yacht Club images, which were protected under Yuga Labs' intellectual property.

These NFTs, which were sold through a project known as “RR/BAYC,” were marketed as a parody of the original collection.

Yuga Labs argued that the defendants had conducted a “pump-and-dump” scheme, using the infringement to manipulate the market, artificially inflating the value of the “RR/BAYC” NFTs before selling them at a profit.

In a February 2024 ruling, the court found in favor of Yuga Labs, ordering Cahen and Ripps to pay nearly $9 million in damages.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.