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

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Kelly Ng

Kelly Ng

Published Wed, May 18, 2022 · 05:58 PM
    • FILE PHOTO: A representation of cryptocurrency Ethereum is seen next to non-fungible tokens (NFTs) of Yuga Labs "Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken March 24, 2022. REUTERS/Florence Lo/Illustration/File Photo
    • FILE PHOTO: A representation of cryptocurrency Ethereum is seen next to non-fungible tokens (NFTs) of Yuga Labs "Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken March 24, 2022. REUTERS/Florence Lo/Illustration/File Photo REUTERS

    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.

    non-fungible tokens (nft)LawsuitsCryptocurrencies

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