Victims in Singapore, Hong Kong, Macau lose millions in alleged 'Fun Coffee' Ponzi scheme

SINGAPORE – A number of investors in Singapore have made police reports over an alleged Ponzi scheme involving Fun Coffee, a food business that originated in Vietnam.

It comes just days after the authorities in Hong Kong and Macau arrested eight people in total linked to a scheme that has seen 200 people lose nearly HK$100 million (S$16.3 million).

Based in Phu Quoc, Vietnam, Fun Coffee claimed to have assets of more than US$1 billion (S$1.28 billion) and a team of more than 5,000.

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Investors were encouraged to pour money into the firm's coffee-based ventures using cryptocurrency.

It claimed to employ sophisticated technology including brewing machinery and intelligent irrigation and fertilisation systems, reported Asia News Network.

The firm's app went offline on July 20, leaving investors unable to withdraw their funds. The scheme collapsed in late July, the same month when the authorities in Hong Kong deemed it a suspicious investment product.

A 48-year-old woman in Singapore said she invested about $400,000 in the coffee investment enterprise. The permanent resident said she had also roped in family members and friends as investors.

"I feel very guilty, because I introduced them to this. I even invested all the money from my business (into the app).

"I now have about $80 left in my bank account. I don't know what to do," the woman told Shin Min Daily News.

She said she was introduced in June 2025 to Fun Coffee by a friend, who sent her videos of events the firm organised.

In September 2025, she was told she could earn $100 if she got 10 friends to attend a company event. Each friend she brought would also receive $50.

She later downloaded the app and began investing.

Her investment initially paid off, and she received about $10,000 in returns, which she re-invested into the scheme.

On July 21, the woman's friend, who is based in Hong Kong, told her she could no longer withdraw her money. Three days later, the woman experienced the same issue.

The woman then decided to make a police report.

Fun Coffee, which operated at several locations in Hong Kong, had promised significant returns, advertising annual returns of between 197 and 278 per cent, reported South China Morning Post.

The company entered Singapore sometime in 2025. According to its Singapore website, Fun Coffee is a "lifestyle brand combining coffee, wellness and digital innovation into a community experience".

Checks by The Straits Times show that the firm was incorporated in Singapore on Feb 3, with its registered address listed as 202 Jalan Besar.

ST visited the shop on Aug 7 and found a coffee vending machine at the entrance. Handwritten instructions were next to the machine, with directions on how customers can scan a QR code to make payment.

Although a male staff member was inside the shop, he declined to provide any assistance. Nobody was seen entering the unit.

As at Aug 7, Fun Coffee SG's Facebook and Instagram pages have been taken down.

ST has contacted the police for comment.

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This article was first published in The Straits Times. Permission required for reproduction.