Vietnam's "Fun Coffee" is involved in a virtual currency scam explosion in Hong Kong, with thousands deceived and over 1 billion Hong Kong dollars involved

According to a report by Hong Kong 01, "Fun Coffee," which claims to be rooted in Vietnam, just entered Hong Kong at the end of 2025 and was warned by the Hong Kong Securities and Futures Commission in July 2026 for being a suspicious investment product. The company appears to be investing in the coffee business, but in reality, it is a virtual currency investment scam with annual interest rates as high as 222%, ultimately "collapsing" at the end of July.

The victim group has over 370 people, with each person defrauded of hundreds of thousands of dollars. Multiple investment groups combined have a total of 4,000 people involved, with funds exceeding 1 billion Hong Kong dollars. A middle-aged woman in her 50s claims that she unknowingly became a shareholder and director of one of Fun Coffee's Hong Kong registered companies, and she has over a hundred "downlines." After being contacted by reporters, she has gone to the police to report the case. The police have received 115 reports, which have been handed over to the Commercial Crime Bureau's fraud investigation team for follow-up.

The report states that Fun Coffee held a marathon event in Hong Kong at the end of last year, inviting artist Yuen Siu Cheung to host and distributing anti-fraud leaflets for promotion in various districts. The company's headquarters in Kowloon Bay and its storefront in Mong Kok are now empty, with notices of unpaid rent posted. The Securities and Futures Commission issued a warning on July 13, and the Vietnamese Ministry of Public Security also warned in May that it is suspected to be a Ponzi scheme.