South Korea CATFI rug pull case heads to court under VASP Act
Tech South Korea CATFI rug pull case heads to court under VASP Act A fast-moving South Korea CATFI rug pull is now at the center of a legal first. In South Koreas CATFI case, prosecutors have charged five people linked to the Solana meme coin, turning what looked like another brief token frenzy into a test of how far crypto enforcement can reach on decentralized markets. The allegations go beyond a bad trade or a failed project. Prosecutors say CATFI was pushed with false promotion, hidden control of wallets, and wash trading, then collapsed after value was pulled from the market. For South Korea, that makes this more than a token story. It is a signal that DEX activity is not outside the law. That shift matters because much of the toughest crypto enforcement has historically centered on centralized exchanges and more established listings. Here, authorities are taking aim at a meme coin that launched on Pump.Fun, moved onto a decentralized exchange, and allegedly drew in thousands of buyers before unraveling. South Korea brings its first DEX rug pull case to court The Seoul Southern District Prosecutors‘ Office has brought charges against five people tied to CATFI, in what prosecutors describe as South Korea’s first DEX