Hong Kong Scammers Arrested Over 'Fun Coffee' Crypto Scheme Promising 278% Returns

Hong Kong authorities have arrested eight suspects in connection with an alleged cryptocurrency investment scam involving the 'Fun Coffee' platform. The scheme, which promised unusually high returns of up to 278%, claimed to invest in coffee-related ventures through cryptocurrency and had entered the Hong Kong market in late 2025.

Over 10 probable victims from Hong Kong met the press after the arrests, sharing their experiences with the scam. One victim claimed to have lost nearly HK$10 million (approximately $1.28 million USD), while another reported losses of around HK$900,000. The platform's organizers initially presented themselves as offering sports activities and short video production, with participants encouraged to recruit friends through a bonus system.

Once the group had built a large following, they introduced so-called investment tasks that required direct deposits. These limited-time offers made them appear more attractive to victims, who often pooled funds with friends to participate. The recruitment model relied on each newcomer bringing in 10 friends, resulting in over 700 members in one team alone.

Hong Kong lawmaker Johnny Ng Kit-chong accompanied the victims at the press conference and urged the government to strengthen its anti-fraud mechanisms by allowing authorities to freeze company funds and crypto assets upon identifying suspicious transactions or signs of fraud. He also recommended that residents remain vigilant against schemes promising unusually high returns or promoting 'task-based investments', cautioning investors to carefully assess such offers.