Hong Kong and Macau Police Arrest 8 in Cross-Border 'Fun Coffee' Investment Scam Involving HK$94-100 Million

Aug 4, 2026

Hong Kong and Macau police have arrested eight people in a joint crackdown on a cross-border cryptocurrency Ponzi scheme operating under the name Fun Coffee. The syndicate defrauded 225 victims of HK$94 million by promising annual returns of up to 278% on virtual currency deposits. Despite warnings from Hong Kong's Securities and Futures Commission and Vietnamese authorities, the group lured elderly investors and retirees through community events before abruptly shutting down its mobile application on July 20, 2026.

Fun Coffee cross-border fraud arrests

▪Hong Kong and Macau police arrested eight people in a joint operation from August 1 to 3, 2026, targeting a cross-border investment scam syndicate operating under the name Fun Coffee.
▪Hong Kong police arrested five women and one man, aged 51 to 64, on suspicion of conspiracy to defraud, including company directors, shareholders, and key promoters.
▪Macau police arrested two women on suspicion of aggravated fraud in connection with nine related cases involving 3.6 million Macanese patacas.

Ponzi-style cryptocurrency investment scheme

▪Fun Coffee operated as a cryptocurrency scheme promising annualized returns between 197% and 278% by persuading investors to deposit Tether virtual currency.
▪Fun Coffee falsely claimed to be a Vietnam-based enterprise with over US$1 billion in assets, 5,000 staff, and projects in high-tech coffee equipment and gene optimization.
▪The Fun Coffee mobile application abruptly ceased operations on July 20, 2026, preventing investors from withdrawing their funds or contacting customer service.

Elderly victim financial losses

▪The single largest financial loss in the Fun Coffee scam involved a 51-year-old victim who lost HK$9.63 million.
▪Hong Kong police received 225 complaints involving total losses of HK$94 million, with victims aged 32 to 83, including many retirees.

Identity theft company registration

▪A Tin Shui Wai resident in her fifties reported to police that her personal data, photograph, and ID number were used without consent to register a Fun Coffee entity.
▪The identity theft victim was recruited via a paid video project, persuaded to download the app, and unknowingly became an upline recruiter for over 100 neighbors.

Securities regulator warnings

▪Vietnam's Ministry of Public Security warned in May 2026 that Fun Coffee was suspected of operating a Ponzi-style investment scheme.
▪The Hong Kong Securities and Futures Commission placed the Fun Coffee GCM Project on its alert list of suspicious investment products on July 13, 2026.

Commercial Crime Bureau investigation

▪The Commercial Crime Bureau of the Hong Kong Police Force is investigating the fraud, tracking blockchain fund flows, and has frozen HK$610,000 in suspected crime proceeds.
▪Police searched multiple locations in Kowloon Bay, Tsim Sha Tsui, Mong Kok, and Tsuen Wan, seizing HK$147,000 in cash, 16 bank cards, and promotional documents.