"This is what we worked for 20 years to build," one victim reportedly told investigators. Hong Kong police are processing 255 complaints tied to Fun Coffee, a cryptocurrency investment scheme that vanished with about HK$104 million in investor funds. The count jumped 30 reports in just weeks, with investigators now tracking down the platform's promoters and organizers as six arrested suspects await bail hearings.
The scheme lured investors with astronomical promises. Fun Coffee presented itself as a Vietnam-based company operating coffee equipment and gene research divisions, then directed participants to lock funds in USDT stablecoin across tiered investment plans. Higher deposits meant longer lock-up windows and supposedly fatter returns, some climbing as high as 278% annually. Beginning in July 2025, early adopters sent cryptocurrency into accounts that simply stopped processing withdrawals a year later. Police are now reviewing entertainment industry connections, tracking down celebrities and event hosts who promoted the platform to their audiences, trying to untangle who actually ran the operation and who simply cashed appearance fees.
The investigation extends beyond Hong Kong's border. Macau authorities arrested two women tied to nine separate cases involving roughly MOP3.6 million in losses. Detectives are methodically contacting each victim while building timelines on how the scam recruited so many people across such different networks. The case exemplifies Hong Kong's recurring problem with crypto fraud schemes that exploit the region's appetite for blockchain-based investments while regulatory frameworks struggle to catch up to new schemes faster than they emerge.
This article is for information only and should not be construed as financial advice or investment guidance.
