Singapore court freezes sale, transfer of a Bored Ape Yacht Club NFT

SINGAPORE’S courts have granted a proprietary injunction to freeze the sale and ownership transfer of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT), on behalf of a Singaporean investor against an unknown defendant. 

The injunction was ordered on May 13 in the High Court and will be effective until after a trial of the matter. The investor, identified as Janesh Rajkumar on a court hearing list, is arguing for an equitable proprietary claim over the NFT, and accusing the defendant of wrongful conversion of the NFT as well as a breach of contract.

In January this year, Rajkumar reached out to the defendant, known only by the pseudonym chefpierre.eth, to refinance an existing cryptocurrency loan, according to a statement of claim presented before the court.