Hong Kong Police Probe Multi-Million-Dollar Crypto Scam Linked to Fun Coffee

Hong Kong authorities have been investigating a cryptocurrency scam linked to Fun Coffee, which promised investors annual returns of up to 278% through USDT-based investment plans. The platform stopped operating on July 20, 2026, and victims were no longer able to withdraw their deposits or returns.

According to the police, six people have been arrested in Hong Kong and released on bail pending further investigation. Macau police have also detained two suspects in a related case. The total reported losses from the scam have reached around HK$104 million, with 255 reports filed by victims.

The Fun Coffee platform presented itself as a Vietnam-based business focused on projects such as coffee equipment and gene research. Investors were instructed to fund their plans using cryptocurrencies like USDT, with promised returns ranging from 197% to 278%. The platform also offered deposit bonuses, referral rewards, and daily check-in incentives.