EtherFather Park Sentenced to 4 Years for CATFI Rugpull Fraud

Seoul Southern District Court sentenced Park Mo-seo, known as 'EtherFather,' to four years imprisonment on fraud charges under South Korea's Act on Protection of Virtual Asset Users. Co-defendant A received 2.5 years, while co-defendant B received a 5-year suspended sentence.

The three launched CATFI, a Solana-based meme coin, on a decentralized exchange in early 2025 after investing several million won via Pump.fun. They then executed a rugpull, siphoning approximately 400 million won from investors. The court ruled this the first case applying the fraud statute to DEX rugpull schemes in South Korea.