Fake Bored Ape Yacht Club NFTs Sold by Artist, Yuga Labs Claims

Yuga Labs Inc., creator of the popular Bored Ape Yacht Club nonfungible tokens, claimed that conceptual artist Ryder Ripps scammed consumers into purchasing fake Bored Ape NFTs in a trademark infringement lawsuit filed in Los Angeles federal court.

Ripps has made more than $5 million in a pump-and-dump scheme involving the counterfeit NFTs, called RR/BAYC, which have been sold to more than 1,000 consumers, according to the June 24 complaint.

“Brazenly, he promotes and sells these RR/BAYC NFTs using the very same trademarks that Yuga Labs uses to promote and sell authentic Bored Ape Yacht Club NFTs,” said the complaint, ...