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South Korean prosecutors indict and arrest criminal groups manipulating the price of Meme Coin CATFI on Solana

MeNews
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Abstract generation in progress
ME News report: On May 27 (UTC+8), South Korean prosecutors accused a criminal group of manipulating the price of Solana-based meme coin CATFI, unlawfully profiting 400 million Korean won (about $260,000). This is South Korea’s first case involving an arrest and prosecution for a decentralized exchange (DEX) scam. Investigators said the main suspect, a man surnamed Park, acted as the KOL “Eth Father” on social media, falsely promoting CATFI as an independent third-party platform, and then carried out the scam, causing 256 investors to lose 900 million won (about $600,000). (Source: Foresight News)
SOL-1.53%
MEME-1.05%
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GateUser-d6fb8ff1
· 3h ago
Will this case serve as a warning to those who come after, or will they still continue to chase after the hype?
View OriginalReply0
LatencyMonk
· 15h ago
KOL packaged as a third-party platform, a classic routine of changing the shell but not the substance
View OriginalReply0
LightsInTheMistyValley
· 15h ago
Do the main suspect’s name(s) all include Eth, yet they end up dealing with Solana coins—are they schizophrenic?
View OriginalReply0
Front-RunningArbitrage
· 15h ago
Eth Father, this name is just ridiculous, does anyone really believe it?
View OriginalReply0
TheStoneBehindTheVolcano
· 15h ago
$600k for a group of people's tears, the crypto circle's newcomers are being harvested really quickly
View OriginalReply0
ZenOfZK
· 16h ago
900 million Korean won lost, an average of 3.5 million per person, Korean retail investors are really wealthy
View OriginalReply0
TidepoolQuant
· 16h ago
Isn't DEX decentralized? How can it still manipulate prices? Please explain.
View OriginalReply0
QuietAirdropper
· 16h ago
South Korea's first DEX scam lawsuit filed, meme coin waters are too deep
View OriginalReply0

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