South Korean prosecutors indict and arrest criminal group for manipulating the price of Solana-based Meme coin CATFI
Foresight News reported, citing Digital Asset, that South Korean prosecutors have charged a criminal group with manipulating the price of the Solana-based meme coin CATFI, making illegal profits of 400 million Korean won (approximately $260,000). This is the first arrest and prosecution in South Korea involving a decentralized exchange (DEX) scam.
Investigators stated that the main suspect, a man surnamed Park, posed as the KOL "Eth Father" on social media, falsely promoting CATFI as an independent third-party platform, and then conducted the scam, causing losses of 900 million Korean won (about $600,000) to 256 investors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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