Eth Father—this name is quite ironic, and he exclusively targets Eth believers.

According to Korean media Digital Asset, the Seoul Southern District Prosecutors’ Office announced that it has indicted a criminal group for manipulating the price of the Solana meme coin CATFI and obtaining illegal profits of 400 million Korean won (about $260,000). The investigation found that the ringleader, a person surnamed Park, operated on social media under the influencer identity “Eth Father,” posing as an unrelated third party to recommend that retail investors buy CATFI tokens, while the other accomplices concealed the project by fabricating false favorable announcements, boosting fake follower counts, and using other measures. Ultimately, due to the team’s Rug Pull, 256 investors suffered actual total economic losses of 900 million Korean won.