CatFi Memecoin (CATFI)
Summary
CATFI was a Solana-based memecoin launched via Pump.fun whose operators, led by a suspect identified only as Park (alias 'Eth Father'), orchestrated a coordinated pump-and-dump that caused approximately 900 million won (~$600,000) in investor losses across 256 victims in early 2025. South Korean authorities arrested five individuals in May 2026, resulting in South Korea's first criminal prosecution for a decentralized-exchange rug pull under the Virtual Asset User Protection Act, and the ringleader was sentenced to four years in prison by the Seoul Southern District Court on July 23, 2026.
Connected Entities
1 entities · 10 linked investigationsTimeline(6 events)
2024-07-01
South Korea's Virtual Asset User Protection Act enters into force, establishing the legal framework later used to prosecute the CATFI scheme.
CryptoTimes / CryptNews reporting on legal framework2025-01-01
First prosecution under the Virtual Asset User Protection Act is filed in connection with a Bithumb centralized exchange price manipulation case, establishing the Act's initial enforcement precedent.
Tokenist reporting on legal context2025-02-01
CATFI token is launched on Pump.fun on the Solana blockchain. Price surges approximately 1,001-fold within 26 hours due to alleged wash trading and coordinated social media promotion. Token reaches a peak market capitalization of approximately $8.99 million. Operators then execute the rug pull, draining liquidity and leaving 256 confirmed investors with losses totaling approximately 900 million won (~$600,000).
CoinTelegraph / CryptoTimes / Yahoo Finance2026-05-11
Seoul Southern District Prosecutors' Office arrests five individuals, including ringleader Park (alias 'Eth Father'), in connection with the CATFI rug pull.
The Currency Analytics2026-05-27
Seoul Southern District Prosecutors' Office formally indicts all five suspects under the Virtual Asset User Protection Act, marking South Korea's first criminal indictment for a DEX-based rug pull. Case is described as only the second-ever prosecution under the Act.
CryptoTimes2026-07-23
Seoul Southern District Court issues the first-ever verdict under the Virtual Asset User Protection Act's 'Fraudulent Unfair Trading' provisions. Ringleader Park receives a four-year custodial sentence. Two accomplices receive sentences of 2.5 years and three years (the latter with five years of probation).
KuCoin News Flash citing South Korean court reportingDecision Log
- #1publish⛓ pending8/12/2026, 11:24:24 PMhash: ByauUQCcHtr5q4oDtJ9GVMw2Jw6zvNbuhDsGwZRyApH1
12 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/12/2026, 11:24:17 PM
last updated: 8/13/2026, 7:46:55 AM
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