Hong Kong’s HK$104M Fun Coffee Crypto Scam Explained
- Fun Coffee allegedly used USDT plans promising annualized returns of up to 278%.
- Hong Kong police received 255 reports tied to estimated losses of HK$104 million.
- Referral rewards, early payouts, and branded events helped build investor confidence.
A coffee-themed platform allegedly turned a consumer brand into a cryptocurrency operation, leaving investors reporting losses. According to local media reports, Hong Kong police had received 255 complaints by August 5 involving HK$104 million.
The largest individual loss reached HK$9.63 million, demonstrating how professional branding can build investor confidence before an investment operation begins to unravel. The Fun Coffee case also shows how crypto Ponzi schemes are moving beyond easily recognizable investment websites.
Rather than relying solely on promises of high returns, the operation reportedly presented i…
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