South Korea Files First DEX Rug Pull Case Over CATFI

• South Korea filed its first DEX rug pull prosecution tied to the Solana meme coin CATFI.
• Authorities accused the group of fake promotions and hidden wallet-controlled trading.
• Prosecutors said CATFI surged 1,001-fold before investors suffered about KRW 900 million in losses.

South Korean prosecutors have filed the country’s first criminal prosecution tied to a decentralized exchange rug pull case after charging a group accused of manipulating the Solana-based meme coin CATFI and generating millions of won in illegal profits.

Authorities said the case centered on a scheme that used fake promotions, wallet distribution tactics, and manipulated trading activity to attract investors before the project collapsed, leaving hundreds of traders with losses.

The Seoul Southern District Prosecutors’ Office’s Joint Investigation Department for Virtual Asset Crimes annou…

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