South Korea Indicts 5 in First DEX Rug-Pull Case Under 2024 User Protection Act

South Korea's Seoul Southern District Prosecutors' Office arrested five suspects on May 11, 2026, and indicted them on May 27, 2026, in what it described as the country's first criminal rug-pull case tied to a decentralized exchange. Prosecutors allege the group manipulated CATFI on a Solana-based DEX, draining liquidity and causing 256 investors to lose a combined 900 million won ($600,000) while the organizers made about 400 million won ($260,000).