HK $13.71 Million Crypto Scam Unravels with Arrests of Eight Suspects

A Hong Kong-based cryptocurrency investment scam, dubbed 'Fun Coffee', has netted over HK$107.5 million ($13.71 million) from more than 264 victims in the city and Macao. The scheme promised returns of up to 278 percent through investments in coffee-related ventures, but it was eventually shut down by regulators.

Apparent victims of the scam met with the press on Wednesday, revealing that they were lured by promises of high returns and recommendations from trusted friends. One victim claimed to have lost nearly HK$10 million.

The 'Fun Coffee' platform entered the Hong Kong market in late 2025, claiming to have developed advanced coffee brewing equipment, coffee gene optimization technology, and intelligent irrigation and fertilization systems.

Victims reported individual losses ranging from HK$3,000 to about HK$9.6 million. The scheme collapsed in July, around the same time that the Securities and Futures Commission of Hong Kong placed the 'Fun Coffee GCM Project' on its alert list of suspicious investment products.