CatFi Creators Charged Over $600K Solana Meme Coin Rug Pull
South Korean prosecutors charged five people linked to the CatFi meme token.The creators are accused of causing 900 million won, or about $600,000, in damages to 256 investors.The case marks South Koreas first rug pull prosecution under its new Virtual Asset User Protection Act. South Korean prosecutors have charged five people accused of running a CatFi meme coin rug pull that allegedly caused about $600,000 in losses to 256 investors. The case has drawn attention as the first time prosecutors have used South Koreas new Virtual Asset User Protection Act against an alleged rug pull. CatFi launched on the Solana token launchpad Pump. fun in February 2025. After prosecutors announced the charges, the dormant token jumped nearly 6,000% as traders attempted to revive what remained of the project. CatFi Creators Face Rug Pull Charges The Seoul Southern District Prosecutors Office said five defendants created and promoted CatFi before allegedly dumping large token holdings on buyers. Prosecutors calculated investor damages at 900 million won, or about $600,000, while the defendants allegedly gained more than 400 million won, equal to around $267,000. CatFi reportedly reached an $8.37 million market capitalization shortly after launch before collapsing to about $12,170 within hours. Prosecutors described the sharp crash as the









