It is located at Fires, south of Dryopida at an elevation of 180m. Despite the damage it has suffered due to the continuous human presence on the island, it has magnificent and original chambers. The locals used to celebrate Easter in the main chamber of the cave that is also called the «great square». The «chamber of the stalactites» further inside the cave has stone blocks on its floor forming a series of rock curtains, while there is a plethora of stalactites with a knoll-like shape on the walls of the chamber. Other noteworthy parts of the cave are: the «tristrato» (three roads), the «winding corridor», and the «chamber of the arcades».
Katafiki belonged to a foreign mining company in the interwar period. A manmade tunnel a few meters past its natural opening leads to the coastal settlement of Lefkes.
At the time when the Aegean was filled with pirates, the inhabitants of Dryopida sought refuge (“katafigio” in Greek) in this cave, hence the origin of its name.