South Korea indicts CATFI crew in first DEX rug pull arrest case after $260K profit, $600K losses

South Korea’s Seoul Southern District Prosecutors indicted two alleged CATFI market manipulators in custody, one without detention, and two accused of helping the ringleader flee, making it the country’s first DEX rug pull arrest case. Prosecutors say the group launched the Solana meme coin on pump.fun in early 2025, used fake SNS promotion and wallet-splitting to hide control, then dumped after CATFI ran 1001x in 26 hours. Around 6,000 people bought in, 256 investors lost KRW 900 million, and the crew allegedly turned KRW 10 million in seed capital into KRW 400 million in criminal profit.

TLDR by @Benthic

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