South Korea's first crackdown on DEX fraud case under the Virtual Asset User Protection Act, involving CATFI project According to Crypto.news, the Virtual Asset Crime Joint Investigation Department of the South Seoul District Prosecutors' Office has arrested and charged two main perpetrators related to Solana Meme coin CATFI on suspicion of market manipulation. One person has been charged without detention, and two people have been charged for assisting the main perpetrator in escaping. This is the first time that South Korea has arrested and prosecuted the "Rug Pull" scam on a decentralized exchange (DEX) under the Virtual Asset User Protection Act. The prosecutor claimed that the main culprit Park impersonated internet celebrity "Eth Father" on X platform, recommended investors to purchase CATFI under an unrelated third-party identity, managed the project's social media account, manipulated the number of fans, and posted false positive news. The gang also dispersed CATFI across multiple wallets, concealing the fact that the issuer controls the tokens through circular transactions.