Crypto▼ Bearish
Hong Kong Warns on Fun Coffee After $127M in Investor Losses
Hong Kong's SFC warned on Fun Coffee after investors reported losses above $127 million. Withdrawals stopped in July, and police have received 115 reports. The regulator pushes stronger platform vetting.
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Hong Kong's Securities and Futures Commission has flagged a crypto-linked investment project called Fun Coffee, warning that investors may have lost more than $127 million. The regulator said the platform showed signs of a suspicious operation and cautioned that participants could lose their entire principal.
Fun Coffee entered Hong Kong in late 2025, promoting a coffee-related model that promised annual returns of up to 222%. Users downloaded an app, completed platform activities, and deposited virtual assets to generate future earnings, the SFC said.
Many investors joined after recommendations from friends or personal contacts. The project claimed ties to Vietnam, announced large-scale operations, and presented itself as a growing coffee enterprise with thousands of employees and expansion plans.
By late July, multiple users reported that withdrawals had stopped. Some could no longer access their accounts. Online groups began documenting alleged losses, with reports from around 4,000 members placing the estimated damage above HK$1 billion – roughly $127 million.