Kishu Inu founder charged with fraud over alleged $9M rug pull

This is a notable escalation in how US prosecutors treat memecoin launches: the theory is not that the token failed, but that the founder's own token allocation was quietly liquidated while investors were told otherwise. That framing matters for every project with a large insider supply and public-facing promises, since it suggests launch-wallet behavior can become the core of a criminal case rather than a civil dispute. The FBI's call for investors points to a widening evidence-gathering effort; whether that produces further charges or a broader pattern across similar launches is the open question.