Hong Kong’s Securities and Futures Commission (SFC) has issued a public warning over Fun Coffee, a suspected cryptocurrency investment scheme that allegedly defrauded around 4,000 investors of more than $127 million.
Fun Coffee entered Hong Kong’s market in late 2025, promoting a coffee-related investment model that promised annual returns of up to 222%. Users were encouraged to download an application, complete platform tasks, and deposit funds via virtual assets. Many joined after personal referrals, and the project claimed links to Vietnam, boasting thousands of employees and expansion plans. By the end of July 2026, however, multiple users reported that withdrawals had been blocked and accounts had become inaccessible. Several company locations in Hong Kong were found to be empty.
The SFC warned that the platform displayed signs of a suspicious investment operation and that participants could lose their entire principal. The Hong Kong Police received 115 complaints related to the case and transferred the investigation to the Commercial Crime Bureau’s deception investigation team. Vietnamese authorities had already raised concerns in May 2026, citing possible signs of a Ponzi-style operation.
The Fun Coffee case coincides with a broader surge in crypto-related scams in the region. During the last week of July alone, Hong Kong law enforcement logged 25 reports of romance and online dating investment scams, with losses approaching HK$70 million (US$9 million). In one notable case, a woman lost more than HK$26 million after being drawn into a fake crypto trading app by a romantic contact. TRM Labs data indicates that illicit crypto activity reached US$158 billion in 2025, a 145% year-on-year jump. Investment scams, though only 11.9% of Hong Kong’s deception cases in 2025, generated 44.1% of all financial losses, with average loss per case rising to HK$700,000.
Regulators and police have stepped up enforcement and public education efforts, including the formation of a Virtual Asset Intelligence Taskforce, while reminding investors to verify licensed providers before transferring funds. The incidents highlight the persistent challenge of globally operated scam networks that exploit trust in blockchain technology, even as Hong Kong works to maintain its position as a regulated crypto hub.
