Hong Kong lawmaker fears Fun Coffee crypto scam duped over 1,000 as losses mount

A Hong Kong lawmaker has warned that an unfolding crypto scam run by a coffee investment venture based in Vietnam could involve more than 1,000 victims, as an investor reported losses of HK$14 million (US$1.73 million) across her team. The warning came as police said that total reported losses tied to the syndicate operating as Fun Coffee have climbed to HK$104 million, with 225 complaints received since last month. Six people earlier arrested on suspicion of conspiracy to defraud – a man and...

By Eric Jiang