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Hong Kong Police Crack Down on Fun Coffee Crypto Scam

Guavy AI Editorial Team
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Hong Kong police have arrested six individuals in connection with a cryptocurrency investment scam involving Fun Coffee GCM Projects. The suspects, aged between 51 and 64, include company directors, shareholders, and key members responsible for promoting the project and recruiting investors.

The operation, conducted jointly with Macau police from August 1 to 3, resulted in two additional arrests in Macau on suspicion of aggravated fraud in nine related cases involving 3.6 million Macanese patacas.

The Fun Coffee GCM Projects scam claimed to focus on research into high-tech coffee equipment and coffee gene optimization technology, but investigations revealed that investors were promised unusually high returns through a three-tiered return structure.

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