The first-ever indictment of an individual for creating a memecoin has been brought in the US.

Vai Pham, a Vietnamese citizen, was hit for launching the Saitama Inu token in 2021 and the subsequent creation of the Robo Inu coin, the market maker of which was Gotbit (the founder was recently arrested).

American law enforcement has all the correspondence in Telegram with Gotbit's methods of operation and evidence of market manipulation as part of the promotion of the memecoin.