Scams are everywhere. You can be conned walking down the street as well as just clicking on a link you received in an email. But scams in the crypto world are next level: not only are they common, but they are also sneaking up on you so that you lose it all before you even realize what is going on. The lack of regulation and tech literacy combined with seemingly legit projects plus a massive amount of hype/FOMO can lure you in and snatch everything you have. Crypto is a giant magnet not just for hopeful investors and privacy advocates but for bad actors as well: it’s fresh, exciting, and highly unregulated. One such bad actor is a repeat offender: with multiple scams under his belt and currently awaiting trial, his story is a cautionary tale for anyone getting into crypto. From shady token launches to legal troubles, this is the saga of Jeremy Cahen crypto, aka Pauly0x, a crypto influencer, has been involved in multiple multi-million dollar memecoin scams over the years. He was sued by Bored Apes for copyright infringement, nearly caused the shutdown of the Azuki NFT platform, and played a key role in $PEPE and $PORK. He has also been linked to Fartcoin 2.0 and Trump 2.0 pump and dumps.
In 2025, he was arrested in Puerto Rico for aggravated assault but was later released and is currently awaiting trial. Fame doesn’t seem to escape him: he is currently on San Juan’s most wanted list. Local newspaper Metro Puerto Rico reported that individuals who are on the list are considered armed and highly dangerous. Cahen posted his bail to the tune of $75,000 and was later released, but he’s currently awaiting trial. According to his Instagram, he’s still hanging out at Clippers games, and no reports have come out regarding his court hearing.
Jeremy Cahen: Early Years and Getting Into Crypto
Jeremy Cahen’s story reads like a fever dream of relapse, ambition, and plenty of opportunism. Although he only got into crypto in around 2022 and understood what are NFTs and how do they work, he also speaks openly about his difficult upbringing. A former dog walker and grocery cashier turned heroin addict turned crypto juggler, Cahen is the embodiment of the chaotic nature of the crypto world itself. He often cites his belief in God and his time at AA as his main guiding lights for improving himself and those around him, even though his actions might paint a different picture. Now a self-described “aggressive-aggressive” (as opposed to passive-aggressive), hyper-sensitive, and stubborn builder in crypto, he states he has helped others 1000x their fortunes by investing at the right moment. Life-long buddies with Armie Hammer and often namedropping celebrities to demonstrate how much of a socialite he is even in the upper echelons, Cahen takes every opportunity to shine a light on his contribution to memecoins or how he defies Coinbase and other DEXs.
Who is Jeremy Cahen: The Full Picture
Even though he has been only active for the past 3 years or so, his traces in the crypto community paint a clear picture of who is Jeremy Cahen? He is a notorious crypto scammer, who has repeatedly done crypto scams such as rug pulls and NFT scams. He reached his audience by engaging with it using his X account, which was then suspended due to breaking the platform's policy of not promoting scams. In February 2025, he was arrested in Puerto Rico in charges of aggravated assault. Whether prophet, provocateur, or simply a con man, it’s almost impossible to discuss Web3 without mentioning his name. It’s tough to get a grasp of his character, and this PlasBit piece is about his deeds rather than him as a person, but to quote him directly, “perception is everything”, which coincidentally also says a lot about his involvement in crypto. And involved he was. The following is a rundown of his most notorious moves over less than 3 years.
RR/BAYC NFT Collection: Accusations of Racism
With Artist Ryder Ripps, Cahen created RR/BAYC to ride the waves of the successful NFT Bored Ape Yacht Club, or BAYC. In 2022, Yuga Labs, understandably, sued them over copyright infringements, but the pair didn’t back down. They argued that RR/BAYC was an attempt by Ripps to call out Yuga Labs for its “neo-nazi” and “racist” imagery. According to the accusation, some BAYC art bore uncanny similarities with the SS-Division Totenkopf and its emblems, which was the 3rd Waffen-SS Panzer Division in WW2. In this gaslighting masterclass, Cahen posed as if their project with Ripps was just a brave confrontation opposing a racist multi-billionaire company. This ignored the fact that the Jeremy Cahen crypto project became a thing only because of BAYC itself.
BAYC logo (left) design vs. Nazi imagery
Even though a court ruled in favor of BAYC’s creator, this didn’t stop the duo from making over $1.3 million in profits with RR/BAYC. According to the ruling, though, Cahen is set to pay Yuga Labs $9 million in damages, something he has failed to do as of today.
(Trying) to Expose Zagabond
While riding the waves of the RR/BAYC project, Cahen quickly moved from dubious crypto guy to investigative journalist by trying to expose Azuki founder Zagabond. He accused the Anime NFT project’s founder and his team of fraudulent activities, claiming that they stole over $100 million from the Azuki community. Cahen highlighted that Zagabond had abandoned NFT projects before and extracted money from investors repeatedly. He sent a ripple effect throughout the community: the NFT’s prices dipped spectacularly, almost crashing Azuki to the ground. Note that none of Cahen’s accusations have been pursued in court and, upon apologizing, Zagabond restored the project’s renown. The community’s trust was rebuilt, as there was no hard proof found to support the accusations, and Azuki kept delivering on their promises.
Pond0X: a Scammy Crypto Exchange by Cahen
Now that Cahen has set foot in the Web3 scene with RR/BAYC and his attempted takedown of Azuki, he set eyes on a bigger prize: launching his own crypto exchange. This project basically had all the major red flags you should avoid when getting into crypto:
- Zero documentation: the site and the token itself ($PNDX) hit the market out of nowhere, without any documentation, roadmap, or audit.
- Fake pump: some claim that early investments were there to create hype as the project hit tens of millions before imploding.
- No LP tokens: this is one of the biggest. Liquidity wasn’t locked, rendering trust non-existent.
- Bug in ownership: anyone could transfer native PNDX tokens without the owner’s permission. Normally, only wallet owners can transfer funds, but in PNDX’s case, a bug was the likely culprit for allowing anyone access any wallet and any amount of token. This hiccup resulted in thieves stealing over $2 million from unaware investors.
Cahen also released the contract address and web app simultaneously, confusing investors. Some tokens were bought at high prices, while others minted them cheaply, leading to more financial losses. Critics say Cahen designed PNDX to drain investor funds, further fueling widespread fraud accusations. Many people gave Cohen the benefit of doubt: why would the person who became known for exposing scams become the scammer? The creator himself didn’t bat an eye in the face of allegations either, saying "No one stole your tokens lol. The contract is literally designed as such". He even added “Greed kills” to the project website, clearly stating what he thinks of accusations.
Yougetnothing.eth: It Is What It Sounds Like
$PNDX bears all the hallmarks of a classic rug pull, but this was not the last dodgy Jeremy Cahen crypto story worthy of sharing. In May 2023, he launched a provocative experiment, yougetnothing.eth. He invited investors to send ETH to the wallet address. Although he clearly stated that anyone transferring funds would not get anything in return, investors flocked to his call, helping Cahen amass 626 ETH (around $1.1 million at the time). The wallet also compiled lesser-known memecoins worth only a few dollars but demonstrating the magnitude of Cahen’s initiative.
Pauly0x's announcement of yougetnothing.eth on X
As for the “project owner”, Cahen said that “it is almost as if this is some kind of mass psychological experiment,” adding that yougetnothing.eth is “a case study” and “an exercise in futility.” If you think there’s a moral to the story or a happy ending for investors, you’re wrong. Cahen scooped up everything and left without further elaboration. The only consequence of his actions was a permanent ban on X (formerly known as Twitter), which he says happened because he is “too disruptive and can’t be handled”. As for the latter, we tend to agree.
Memecoins: What Are They and Why You Should Totally Avoid Them
Memecoins are hype-driven, community-powered, and unimaginably volatile tokens, which accidentally describes Jeremy Cahen’s persona in the crypto world. They are inspired by internet memes and viral trends, and they are launched without any serious background or use case. The recipe is pretty simple: memes + virality = moonshot. The reality is also quite straightforward: rug pulls, massive losses, no serious projects. It’s no wonder Jeremy Cahen soon popped up in the memecoin scene shortly after the downfall of the NFT market and NFTs becoming worthless. We know how he created the Pepe inspired memecoin, Pond0X, but before that, he got involved with $PEPE big time. Initially an advocate of the memecoin, Cahen soon put on his investigative journalist hat once again, and accused the Pepecoin team of committing financial fraud. In the meantime, he also dumped $3 million. This is when you sell a lot of tokens all at once, hoping to manipulate the price and cash out before the project tanks. This is how Cahen made sure that, along with his allegations, $PEPE would fail big following a stellar run. While posing as the savior of desperate Pepe investors, Cahen quickly moved to pump his memecoin $PORK, only to dump once again, netting him millions. And the story goes on: he then moved to Fartcoin 2.0 and then to Trump 2.0 to repeat the same rug over and over again.
$PORK, one of Jeremy Cahen's scammy memecoin projects
In the meantime, Cahen, largely riding the waves of the PEPE meme with each rug, promised creator Matt Furie to pay $2 million in an act of generosity. The community and Furie himself exposed this as a lie, as the sum (or a fragment of it) has never actually arrived in any of his wallets. As a side note, remember the botched attempt of RR/BAYC calling out Yuga Labs for their racist apes? Pepe is also repeatedly identified as a tool for racist/right-wing ideologues, but Cahen didn’t seem to mind it when he could take huge profits out of its fame.
Jeremy Cahen pauly0x
We often refer to our heroes and antiheroes by their legal name, but this story’s protagonist is widely recognized by his online moniker. Jeremy Cahen pauly0x is his social media handle, which he uses on platforms like Threads, Instagram, and X (formerly known as Twitter), before he was suspended from there. His posts usually relate to his crypto exchange platform, Pond0x, and about other crypto related topics. His suspension doesn’t stop him from spreading his nuggets of wisdom elsewhere: even upon his arrest in Puerto Rico, he keeps sharing edgy content in Instagram Stories (his bio says “Crypto Legend. The most censored man on @X. 😎”). He certainly gets how fame and virality work: to echo his own thoughts, “if you get people’s attention, you have a platform”. While he’s trying to keep up with the latest crypto trends, pauly0x also admitted that one can easily become a boomer overnight as web3 is an incredibly fast-paced environment.
Jeremy Cahen Net Worth: the Bare Numbers
How can you measure someone’s wealth who avoids transparency by default? Still, we tried our best at PlasBit to give you a ballpark. Jeremy Cahen Net Worth is approximately $10 million, considering his $3 million profits from dumping $PEPE, the 1$ he has made from yougetnothing.eth, the 2$ million he sent to Matt Furie, the $4 million he made from dumping $PORK, and profits from other projects he has taken part in, like Trump 2.0, Fartcoin 2.0, and RR/BAYC. Naturally, this figure could be way out of line as it is based on official reports and trackable transactions. Cahen appears as a person who loves to gloat about status and his riches: in a recent podcast, he bragged about getting front-row seats for LA Clippers games, outbidding Coinbase and being on par with ex-Microsoft CEO Steve Ballmer. Although one court ruling already demanded that he pay $9 million in damages, something tells us that Cahen’s fortune is well north of the above-estimated $10 million.
Avoiding Rug Pulls: A Foolproof Guide
The Jeremy Cahen crypto saga is filled with scams left and right, so you might wonder how to secure your crypto and dodge such bullets when looking for your next investment. So, don’t invest if…
- The token is held by a few people. Anyone can easily create their own coin, keep most of it to themselves, and then leave a small amount to the liquidity pool. And history shows investors will get in simply because they want to be early, ignoring the fact that there’s but a single wallet owner holding the largest chunk of the coins.
How to avoid: look for tokens where the majority of the tokens are not held by just a few wallets. This can be done in a few simple steps: 1) Look up the token’s contract address (CoinMarketCap, CoinGecko, etc.); 2) Visit the relevant block explorer (etherscan.io for Ethereum, bscscan.com for Binance Smart Chain, etc.); 3) Paste the contract address into the explorer’s search bar; 4) View Holders and check how many wallets hold how many of the tokens.
- The token’s liquidity isn’t locked. Don’t buy from DEXs either if liquidity hasn’t been locked for a long time. Most liquidity being unlocked is a telltale sign of something scammy going on with your coveted token. Projects offer locked liquidity to raise the trust in their token.
How to avoid: Use Unicrypt or Team Finance to check liquidity lock status: what you need is long lock statuses, e.g. 6 months or above. Avoid tokens where the project owner can pull liquidity at will, and scan token contracts on block explorers for locked and unlocked liquidity pools.
- The token has a scammy smart contract. Anyone can easily create a smart contract by copy-pasting another existing coin’s code, and then execute another piece of code once investors start buying. The results? Millions worth of coins are now valued not more than a few bucks.
How to avoid: Performing third-party audits is time-consuming but is totally worth it for avoiding dodgy smart contracts.
- Not enough info. Sure, it sounds vague, but most people fall for scams because they want to get in fast without getting the context. Crypto is a high-risk, high-reward venture, and being fast often pays off; but being rash leads to even bigger failures.
How to avoid: Do your own research. Read about the founders, check the project’s social, website, roadmap, look for white papers, and anything that legitimizes the token.
Avoid Jeremy Cahen, Avoid Being Scammed
Having reached the end of the Jeremy Cahen crypto story today doesn’t mean he can’t or won’t continue his activities. Even worse, it doesn’t mean that similar actors won’t pop up in relation to a project you’re about to invest in. Cahen is the poster child of scammy crypto projects: his frauds haven’t yet caught up to him just yet, and he always magically escapes judgment, leaving thousands of defrauded investors in his wake. The PlasBit advice is clear: steer far away from Cahen, and always double-check for red flags. Having been involved in dubious past activities, multiple run-ins with the law, and being banned on social media should all raise your suspicions; and if they do, your only course of action is to protect your assets and invest elsewhere.
