Hong Kong police updates Fun Coffee scam numbers as more victims report losses

The police in Hong Kong have conceded that losses from the collapse of the Fun Coffee crypto scheme may have been higher than initially feared. 

The updated figure of HK$104 million (about $13 million) has begun to appear in official statements and local reports one day after Hong Kong police coordinated raids with authorities in neighboring cities, including Macao.

So far, about HK$147,000 in cash, 16 bank cards, six phones and about HK$610,000 in suspected proceeds have been seized across raids in Kowloon Bay, Tsim Sha Tsui, Mong Kok and Tsuen Wan.

More Fun Coffee scam victims have come forward 

As of August 4, Hong Kong police counted losses near HK$94 million across 225 complaints. By late Wednesday local time, 30 new reports had pushed losses to 255, and the Hong Kong dollar figure had jumped to HK$104 million. 

Macao’s Judiciary Police has been working in tandem on the investigation as well, with reports from the city putting the current total at 264 claims and projected losses above HK$107.5 million (about $13.71 million).

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