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More than 200 investors across Hong Kong, Singapore, and Macau have reported losing nearly HK$100 million (S$16.3 million) in an alleged Ponzi scheme involving Fun Coffee, a Vietnamese food business. Fun Coffee claimed to have assets exceeding US$1 billion (S$1.28 billion) and employ over 5,000 people. Investors were enticed to deposit funds into the firm's coffee-related ventures using cryptocurrency.

However, the company's app went offline on July 20, rendering investors unable to access their money. The scheme collapsed in late July, just days after Hong Kong authorities identified it as a suspicious investment product.

A 48-year-old woman in Singapore, who had invested around $400,000 in the scheme, expressed remorse for introducing others to Fun Coffee, stating that she had even used her business funds to invest. She initially received $10,000 in returns, which she re-invested. However, on July 21, her friend in Hong Kong informed her that she could no longer withdraw her funds. Three days later, she encountered the same problem and subsequently made a police report.

Fun Coffee, which operated in multiple locations in Hong Kong, advertised annual returns ranging from 197 to 278 percent. It entered Singapore in 2025 and marketed itself as a "lifestyle brand" combining coffee, wellness, and digital innovation. The firm was incorporated in Singapore on February 3, with its registered address at 202 Jalan Besar.

However, upon visiting the shop on August 7, The Straits Times found a coffee vending machine at the entrance, but no staff member was present to assist customers. The company's social media pages were offline as of August 7.