South Korean prosecutors arrest suspects in Solana CATFI DEX rug pull case

South Korea's Seoul Southern District Prosecutors' Office arrested and indicted suspects tied to the Solana-based memecoin CATFI, in what is described as the first DEX rug-pull prosecution under the Virtual Asset User Protection Act that took effect in July 2024. Authorities said the token jumped 1,001-fold in 26 hours before collapsing, and 256 investors reported losses of about 900 million won (~$586,000).