What losses have victims in Hong Kong and Macau suffered from Fun Coffee?

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Victims in Hong Kong and Macau have lost approximately HK$100 million from the Fun Coffee scheme.

Authorities in Hong Kong and Macau have arrested eight individuals in connection with the Fun Coffee investment scheme. These arrests are part of a broader investigation into the scheme, which has resulted in significant financial losses for participants in both regions. Approximately 200 people in Hong Kong and Macau have been affected, collectively losing nearly HK$100 million.
Arrests in Hong Kong and Macau

Eight people have been apprehended by authorities in Hong Kong and Macau over the past week. These arrests are directly linked to the operations of the Fun Coffee scheme in these jurisdictions.
Financial Losses for Victims

The Fun Coffee scheme has caused substantial financial harm to its participants. In Hong Kong and Macau alone, around 200 individuals have collectively lost close to HK$100 million. This figure highlights the scale of the financial impact on victims in these areas.
Nature of the Scheme

Fun Coffee, which is based in Phu Quoc, Vietnam, operated by requiring participants to install an application and transfer Tether (USDT) cryptocurrency. The scheme promised unrealistically high returns and commissions for recruiting new members, a common characteristic of fraudulent investment operations. Victims were eventually unable to withdraw their invested funds.

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What losses have victims in Hong Kong and Macau suffered from Fun Coffee?

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