Kishu Inu Founder Charged with $9 Million Rug Pull as Federal Prosecutors Crack Down on Memecoin Fraud

Federal prosecutors have charged the founder of Kishu Inu with orchestrating an alleged $9 million rug pull, accusing him of secretly selling tokens allocated before public launch while misleading investors about the project's prospects.

The case highlights a growing crackdown on memecoin fraud, as authorities scrutinize undisclosed token sales and seek to protect retail investors from volatile, hype‑driven projects that can vanish overnight.