CATFI
Summary
CATFI is a Solana-based meme coin launched in early 2025 via Pump.fun that was the subject of South Korea's first criminal indictment for a decentralized exchange rug pull. Five suspects, including alleged ringleader Park (alias 'Eth Father'), were indicted on May 27, 2026 by the Seoul Southern District Prosecutors' Office under the Virtual Asset User Protection Act after allegedly engineering a 1,001-fold price pump within 26 hours then draining all liquidity, leaving 256 investors with approximately 900 million won (~$650,000 USD) in losses. The case is legally significant as the first application of South Korea's unfair-trading statutes to on-chain DEX conduct without a centralized platform intermediary.
Connected Entities
2 entities · 10 linked investigations- 5AKD6AqoaHxuePTZUfSkiHM6gpCT4tJ6UMrNwDZGpump→mentioned with→CATFI(50%)
Timeline(9 events)
2024-07-19
South Korea's Virtual Asset User Protection Act takes effect, extending market manipulation and fraud enforcement beyond centralized exchanges.
Shin Kim Law Newsletter2025-02-01
CATFI meme coin launches on Pump.fun (Solana). Within 26 hours, the token price surges approximately 1,001-fold, attracting around 6,000 buyers. Suspects allegedly drain all liquidity shortly after peak, crashing the token to near zero.
The Block2025-02-01
CATFI peaks at a market capitalization of approximately $8.37–$8.99 million before collapsing to approximately $12,170 following the alleged liquidity drain.
Decrypt2025-02-01
Online blockchain analysts identify suspected wallet addresses and report them to South Korean police. Police initially close the case after suspects claim they were victims of a hack.
Traders Union / The Block2025-08-01
According to blockchain explorer data, CATFI records no further buying activity after approximately August 2025.
Decrypt2025-01-01
South Korea's Financial Services Commission refers CATFI investigative materials to prosecutors, re-opening the case at the prosecutorial level.
CryptoPotato2026-05-11
Two primary suspects arrested by Seoul Southern District Prosecutors' Office Virtual Asset Crime Joint Investigation Division. One suspect had been in hiding for approximately three months using disguises.
CryptoTimes2026-05-27
Seoul Southern District Prosecutors' Office formally indicts all five suspects under the Virtual Asset User Protection Act — South Korea's first criminal indictment for a rug pull executed on a decentralized exchange.
Bitcoin.com News2026-05-27
Following news of the arrests, speculative traders pump the dormant CATFI token from approximately $2,350 to approximately $167,000 market cap within 24 hours. A new X account (@CatFi_Official) claims to be organizing an 'unrug' effort.
DecryptDecision Log
- hash: 6KU6yngTETvkcVAhoyYw5oFkREq1U8jJYeNqa2BT3hQx
This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/3/2026, 5:18:02 PM
last updated: 7/27/2026, 1:22:47 PM
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