Hong Kong‑Macau 'Fun Coffee' Crypto Scam Costs Over HK$100 Million

Police in Hong Kong and Macau have dismantled a cross‑border cryptocurrency investment scheme operating under the name “Fun Coffee”. The scheme, which marketed itself as a coffee‑technology venture, promised annual returns of up to 278 % and attracted hundreds of investors aged 32 to 83. By early August, authorities recorded more than 225 complaints in Hong Kong and 264 in Macau, with total reported losses rising to between HK$104 million and HK$107 million (about US$13 million).

Joint raids seized cash, bank cards, mobile phones and cryptocurrency wallets, and eight suspects – one man and seven women, including company directors and promoters – were arrested on conspiracy to defraud. Lawmaker Johnny Ng has been assisting victims and urging stronger anti‑fraud measures. The investigation continues as police trace the flow of the stolen virtual‑currency assets.