Hong Kong reports 269 Fun Coffee scam cases
On.cc · 2 SOURCESabout 1 hour ago3 MIN
Summary
Hong Kong police said the number of reports tied to the Fun Coffee investment scam had risen to 269 by August 10, with total losses of about HK$112 million. The alleged scheme promoted cryptocurrency investments in a project branded as Fun Coffee GCM and claimed unusually high annual returns before the mobile app stopped functioning on July 20.
Key Points
- Hong Kong and Macau law enforcement launched a cross-border joint operation earlier this month over the Fun Coffee case
- In Hong Kong, police arrested one man and five women aged 51 to 64 on suspicion of conspiracy to defraud
- Those arrested included the company’s director, shareholders, company secretary, and core members responsible for promotion and investor recruitment, and they were later released on bail pending further investigation
- Police said they began receiving reports from residents last month, with complainants saying they had joined the Fun Coffee GCM investment plan from July 2025.
- Investigators said the company claimed to be developing high-tech or multi-function coffee equipment and coffee gene research, while persuading investors to join using cryptocurrency.
- The company allegedly used investment seminars, social gatherings and other promotional events to recruit the public, while encouraging participants to refer friends and relatives for extra rewards.
- Interested participants were told to download the Fun Coffee mobile app, register personal details, and transfer cryptocurrency to designated wallet addresses under customer service instructions.
- Police said the platform offered plans such as “Set Sail”, “Growth” and “Voyage”, with claimed annual returns of about 197% to 278% depending on investment size and lock-up period
- In one example cited by police, an investor placing about 10,800 Tether, worth roughly HK$84,000, in a 10-day “Growth” plan was promised about 680 Tether in profit, equivalent to about HK$5,300
- The app also featured deposit bonuses, referral rewards and daily check-in mechanisms, which police said encouraged continued use and larger capital injections
- Some early investors were able to withdraw small returns, which police said lowered suspicion and led some victims to increase their investment amounts
- The app suddenly stopped operating on July 20, after which investors could not recover their principal or claimed returns and received no reply from platform customer service.
- Police said the largest single reported loss was HK$9.63 million, involving a 51-year-old victim
- Macau’s Judiciary Police also arrested two women on suspicion of aggravated fraud, and had received nine reports involving losses of about MOP3.6 million
Why It Matters
The case shows how alleged fraudsters combined cryptocurrency transfers, app-based account management and referral incentives to widen their reach among Hong Kong residents. For local readers, the investigation is likely to focus attention on whether promoters, organisers and any public-facing participants played distinct roles in drawing in investors.