Hong Kong police updated the tally on the Fun Coffee crypto collapse Wednesday, and the numbers keep climbing. 255 people reported losses now, up from 225 just days earlier. The total hit HK$104 million, roughly $13 million, as more victims came forward after coordinated raids across Hong Kong and Macao.
The scheme promised returns as high as 278% and was linked to Vietnam. Eight arrests so far, six in Hong Kong and two in Macao, though those detained in Hong Kong were released on bail by Wednesday. A local lawmaker already warned the victim count could exceed 1,000 before this settles.
Police seized about HK$147,000 in cash, 16 bank cards, six phones, and roughly HK$610,000 in suspected proceeds across raids in four districts. Macao's Judiciary Police joined the effort and counted 264 complaints there with projected losses above HK$107.5 million. The investigation is still unfolding, with new reports arriving daily as people realize they've been duped.
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